<
https://www.reuters.com/business/autos-transportation/volkswagen-canada-battery-plant-targets-90-gwh-capacity-its-biggest-yet-2023-04-21/>
'BERLIN, April 21 (Reuters) - Canada and Volkswagen (VOWG_p.DE) on Friday
together committed more than C$20 billion ($14.8 billion) for a battery
gigafactory in St. Thomas, Ontario, the biggest single investment ever in the
country's electric-vehicle supply chain.
Europe's largest carmaker is investing up to C$7 billion to build the plant,
Volkswagen said in a statement.
Canada's federal government will provide up to C$13.2 billion in manufacturing
tax credits through 2032, matching the $35 per kWh in production subsidies
offered by the U.S. Inflation Reduction Act (IRA), the government said in a
separate statement said. It will also provide a C$700 million grant.
Ontario's provincial government also will provide C$500 million in direct
investment to the German carmaker, as well as hundreds of millions of dollars
to upgrade local infrastructure.
"It'll be worth over C$200 billion to the Canadian economy over the coming
decades," Prime Minister Justin Trudeau told reporters in St. Thomas, adding
that it would be an "anchor for Canada's electric vehicle supply chain".
"It will provide millions upon millions of batteries to power Canada's auto
industry ... and the economic impact of this project will be equal to the value
of government investment in less than five years," Trudeau said.
The decision to build the plant in Ontario, Canada's most populous province and
a key industrial engine of the country, was announced last month. The battery
plant is expected to be Volkswagen's largest and create up to 3,000 jobs.
Groundbreaking is planned for 2024 and production is projected to begin by
2027, the carmaker said.'
Via
Future Crunch:
<
https://futurecrunch.com/good-news-malaria-belize-crime-mexico-city-bison-montana/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
