Image credit: Dave Chan/Getty Images
May 15, 2023
Volkswagen, then Stellantis: Billions for battery plants, but little on mines for raw material
The federal government and many provincial governments have taken some big steps to seize the potential of the green transition, most recently with the $13-billion subsidy, multiyear subsidy for the St. Thomas, Ont., Volkswagen electric-vehicle battery plant. However, this is not a financially sustainable approach.
Canada’s critical minerals strategy has large aspirations, but these plans will go unrealized without a higher degree of focus and funding.
Less than a month after that subsidy’s price tag was revealed, news emerged that Ottawa is under pressure to match it for Stellantis and LG Energy Solution’s Windsor, Ont., battery plant, with construction at the site halted.
And for all their hefty price tags, there is a key ingredient missing from these subsidies.
Read the full article from The Globe and Mail.
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