Volkswagen to tap US subsidies with battery plant in Canada

[oil&gas]

13 MARCH 2023

Volkswagen (VW) has chosen Canada to build its first battery plant outside Europe in a bid to fast-track an expansion in the key US market.

The site, in St Thomas, Ontario, is slated to start production in 2027, Europe’s biggest carmaker said Monday. The decision to locate the facility in Canada, amid rich incentives offered in the US as part of the Inflation Reduction Act, will help VW get access to key raw materials and clean energy, according to the company. ..

Volkswagen to tap US subsidies with battery plant in Canada

Europe’s biggest carmaker sees opportunity to grow profitably in North America

www.businesslive.co.za

 

[oil&gas]

This is just the beginning. As the Ukraine war drags on we will see
more European manufacturing companies moving their plants to North
America. Sanctions against Russia carrying over to the post-Ukraine-war
era should benefit export industry of Canada and the U.S. to no end.

 

[oil&gas]

 

[jcpro]

I've noticed that, when pressed on CBC, Minister Champaign failed to answer the question how much VW got from Canada in the "incentives ". I smell a boondoggle.

 

[oil&gas]

In retrospect Trudeau did the right thing in his response to
Olaf Scholz's pleading for Canada's natural gas during his visit
from Germany. Germany going green as Trudeau advised instead
of relying on low cost natural gas is one way to expedite demise
of their manufacturing industry. At any rate we will step up post-
-Ukraine-War export of LNG to Europe as much as we can though
only at premium price to dirt cheap Russian gas.

 

[danmand]

This is just the beginning. As the Ukraine war drags on we will see
more European manufacturing companies moving their plants to North
America. Sanctions against Russia carrying over to the post-Ukraine-war
era should benefit export industry of Canada and the U.S. to no end.

I doubt it. Car manufactories have great incentives to locate assembly plants in their markets, that is true.
But I think the German industries will move elsewhere, probably China or India.

 

[JohnLarue]

In retrospect Trudeau did the right thing in his response to
Olaf Scholz's pleading for Canada's natural gas during his visit
from Germany. Germany going green as Trudeau advised instead
of relying on low cost natural gas is one way to expedite demise
of their manufacturing industry. At any rate we will step up post-
-Ukraine-War export of LNG to Europe as much as we can though
only at premium price to dirt cheap Russian gas.

no Trudeau did not do the right thing
Germany signs gas deal with Qatar | eurotopics.net

 

[jalimon]

Volkswagen asked for the equivalent of 1400 football field and 700 megawatt of electricity at low price. All that was asked in a short time period. Financial term are still unknown.

This is the 3rd major plant to have chosen Ontario after Kingston (Stellentis LG) and Windsor (Umicore). These 2 is like 7 billions investment.

 

[HEYHEY]

Rumor has it its north of 15 billion dollars coming from taxpayers, that translates to about 7.5 million per job created

 

[dirtydaveiii]

Great news for Ontario. It's nice to see Canada being competitive for once rather than letting the US conservatives dictate