CP NewsAlert: Volkswagen to get up to $13 billion from Ottawa to make EV batteries
By The Canadian Press on April 20, 2023.
OTTAWA – German 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. A federal government source with knowledge of the deal confirms the contract will include both an upfront capital investment of $700 million and, for the first time, production subsidies worth up to $13 billion over a decade. More coming. 4-3
