Northern Graphite Corp V.NGC

Canada to provide up to $13 Billion

[grover11]

The federal government will provide Volkswagen with up to $13 billion in production subsidies for the electric-vehicle battery plant it plans to build in St. Thomas, nearly double the estimated $7-billion cost of construction. Ottawa’s backing is by far the most generous subsidy the Canadian government has ever provided to an automaker for locating a factory here. Officials with the German automaker joined Prime Minister Justin Trudeau and Premier Doug Ford there Friday morning to officially announce details of the manufacturing plant, which is expected to begin production in 2027 with up to 3,000 workers. Trudeau addressed criticism over the size of the subsidy. “Let’s be really clear about what’s happening here today,” the prime minister said. “Our neighbours to the south were willing to put up an awful lot of money” to locate VW there. “Everyone wanted this.” 

[MaterialsMan]

Not quite sure what is meant by a gov't subsidy. Is it a grant, a loan, or a tax break, or what? If NGC got an offtake agreement with VW, who needs Hyundai.

[woundedknee]

According to some news outlets Canada (and Ontario) are providing up to 13 billion dollars in subsidies to one of the richest car companies in the world(VW) to build a 7 billion dollar battery plant. Now if that is true then is it any wonder why this government(s) is so fiscally irresponsible.

[GripnRip]

To support Volkswagen’s investment, the Government of Ontario is providing $500 million in direct incentives to the company and investing hundreds of millions of dollars more to strengthen and grow St. Thomas and the surrounding communities. This includes infrastructure improvements to roads, railways, water, electricity, and police and fire safety. Ottawa is also offering about $700