OTTAWA : Canada is willing to dole out up to C$15 billion in production incentives for a Stellantis-LG Energy Solution electric vehicle battery plant, trumping a record deal with Volkswagen as Ottawa competes with Washington to woo major clean-tech projects.
"Today's announcement will protect and create thousands of good-paying jobs for workers, including unionized jobs, as we establish an end-to-end electric vehicle supply chain to strengthen the clean economy," the federal and provincial governments said in a joint statement. When the Volkswagen deal was announced, the federal government hailed it as the biggest single investment ever in Canada's EV supply chain, but the new terms for Stellantis mean it will likely end up being even bigger.
For the two deals, the federal government will provide two-thirds of the funding while the Ontario government will provide one-third,"as a direct response to incentives offered by the U.S. government," according to the statement.
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