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Trudeau, Ford discuss Canada's EV battery contract with Volkswagen | LIVE

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Prime Minister Justin Trudeau and Ontario Premier Doug Ford will speak to reporters on Friday following news that Canada will be home to Volkswagen's first EV battery plant outside Europe after the government promised a $13 billion subsidy to secure the deal.

They will be joined by François-Philippe Champagne, Canada's minister of innovation, science and industry.

The subsidy closely mirrors what's offered in the U.S. Inflation Reduction Act, which contains some $370 billion of funding to create a cleaner economy and is designed to spur the volume of production needed to meet targets.

Flavio Volpe at the Automotive Parts Manufacturing Association calls the deal a "massive win" for Canada and says the site in St. Thomas, Ont. also leaves room for more potential investment from the automaker.

For more info, please go to https://globalnews.ca/news/9641259/volkswagen-ev-plant-canada-ontario/
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Category
U.S. & Canada
Tags
global news, Justin Trudeau, Volkswagen
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