Greg Mordue, associate professor at McMaster University and former auto executive, tells BNN Bloomberg that Canada used to provide 20 per cent of the capital cost of an automaker’s project, but the U.S. Inflation Reduction Act forced the government to provide 200 per cent of the Volkswagen EV battery plant’s capital cost, and Stellantis will demand similar terms.
He says unlike the United States, Canada is not getting much in return for these huge subsidies, such as equity, seats on a board of governors or industry infrastructure often found near the headquarters of automakers.
You can watch his entire interview with BNN Bloomberg below.South Africa Latest News, South Africa Headlines
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