The Canadian PressST. THOMAS, ON. – Volkswagen’s massive new electric-vehicle battery plant, being built in southwestern Ontario, could eventually grow to be the automaker’s biggest gigafactory in the world, the CEO of the company’s battery arm said Friday.
Once the factory is producing batteries – the goal is initially to make enough every year to power one million electric vehicles – Canada is offering production subsidies to equal the production tax credits Volkswagen would have received if it had set up shop in the United States. “Everyone wanted this, so yes, we put up a lot of money. Money that’s going to come back in economic investments very quickly.”
The plant will be built on a 1,500-acre “megasite,” with construction set to begin in 2024 and production expected to begin by 2027.