It is deeply concerning that the Minister would suggest a five-year timeline for recovering this investment when the actual timeline is much longer In May of this year, I mentioned the announcement from the Trudeau Liberal Government that Volkswagen would receive "up to $13 billion in subsidies over the next decade" to ensure that the automaker builds its electric-vehicle battery plant in southern Ontario. I also referred to the report by the business analyst firm Statista, which stated that Volkswagen's operating profit in the 2022 fiscal year had increased by approximately 14.78 % from the previous year, reaching around 22.1 billion Euros. Shortly after news of the Volkswagen deal became public, Stellantis-LG Energy Solutions (LGES), another electric vehicle battery manufacturer, demanded similar treatment. Like Volkswagen, LGES had obtained a subsidy deal of up to $15 billion between the Federal and Ontario provincial governments. At the time, our fe...
A discussion on political, economic and social issues in British Columbia, and Canada