Canada’s EV battery contract with Volkswagen could be worth more than $13 billion
German auto giant Volkswagen has secured an exclusive contract with Canada that could be worth more than $13 billion over the next 10 years to build an electric-vehicle battery plant in southwestern Ontario.
It was also known that Canada and Ontario had both put money on the table to lure Volkswagen but until now neither have disclosed exactly how much. A big announcement is planned for St. Thomas Friday, where further information including the expected number of jobs, will be shared. Those subsidies will not be in the form of tax credits but are designed to match what Volkswagen could have received had it chosen a site in the United States to build its new plant.
If at any point the U.S. subsidies on offer decline or are eliminated, Canada’s contract with Volkswagen will be amended to reflect that.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada’s EV battery contract with Volkswagen could be worth more than $13 billionOTTAWA — German auto giant Volkswagen has secured an exclusive contract with Canada that could be worth more than $13 billion over the next 10 years to bu
Read more »
Volkswagen to get up to $13 billion from Ottawa to make EV batteriesGerman auto giant Volkswagen has secured an exclusive contract with Canada worth more than $13 billion over the next 10 years to build an electric-vehicle battery plant in southern Ontario.
Read more »
Ottawa matches U.S. with up to $13-billion in subsidies to land Volkswagen EV battery plantThe arrangement will be formally announced in St. Thomas on Friday, but was confirmed to The Globe by a federal source
Read more »
Canada matched Joe Biden subsidies to win Volkswagen battery plant, pledging up to $13 billionUnprecedented contract provides annual production subsidies as well as a grant toward the factory’s capital cost
Read more »
Canada rakes in $13 billion of orders for 5-year note in record U.S. dollar dealCanada sold a record amount of five\u002Dyear notes in U.S. dollars as the inverted yield curve on Treasuries pushed investors elsewhere. Read on
Read more »
Terrace and area garbathon set for April 23 - Terrace StandardThe spring clean up tradition dates back at least 30 years
Read more »