Stellantis and South Korea's LG Energy Solution (LGES) are implementing 'contingency plans' related to a more-than $5-billion battery plant investment in Canada because the federal government has not delivered on its promises, a Stellantis spokesperson said May 12.
OTTAWA — Stellantis and South Korea's LG Energy Solution are implementing"contingency plans" related to a more-than $5-billion battery plant investment in Canada because the federal government has not delivered on its promises, a Stellantis spokesperson said May 12.
At the time, Canada's Innovation Minister Francois-Philippe Champagne described the deal, which included about $1.48 billion from LGES and undisclosed contributions from federal and provincial governments, as the largest ever in the Canadian auto sector. Earlier, Finance Minister Chrystia Freeland said Canada was having"good discussions" with Stellantis, after a newspaper reported that automaker was looking for better government subsidies than originally offered by Ottawa.
The Star said Stellantis began seeking an enriched deal in Canada shortly after the U.S. Inflation Reduction Act, which offers $369 billion of subsidies for electric vehicles and other clean technologies, passed into law last year.
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