GOLDSTEIN: Trudeau, Ford roll the dice on electric vehicles with our cash

Deputy PM Chrystia Freeland said Stellantis will receive up to $15 billion in “performance incentives,” adding to the $13 billion previously announced for Volkswagen, with the feds financing two-thirds of the costs and Ontario one-third.

Thus, potential taxpayer support for these two European manufacturers will total three times the value of the Stellantis plant and two times that of the Volkswagen plant, which both governments say is necessary due to the importance of the auto sector to the Canadian and Ontario economies. A recent Abacus Data poll found most Canadians support the deals although public awareness of them is relatively low.This is a huge financial roll of the dice, that no one envisioned before Biden’s IRA, especially given that the U.S. has no national carbon tax, which we do and which the feds told us would help make us a global leader in clean technology.

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GOLDSTEIN: Trudeau, Ford roll the dice on electric vehicles with our cashWhat we are witnessing is the birth of a Canadian electric vehicle industry that will run on public subsidies.
Source: TheTorontoSun - 🏆 23. / 68 Read more »

GOLDSTEIN: Trudeau, Ford roll the dice on electric vehicles with our cashWhat we are witnessing is the birth of a Canadian electric vehicle industry that will run on public subsidies.
Source: TheTorontoSun - 🏆 23. / 68 Read more »