Government EV Subsidies Surpass Output of Canada's Auto Industry
The zone will focus on the battery industry, transport electrification, hydrogen, and industrial-port decarbonization
Federal subsidies for electric vehicle manufacturers now total $32 billion, which is more than twice the annual output of the entire Canadian automobile sector.
Cabinet has approved a $322 million
subsidy to Ford and its two South Korean business partners to make
electric battery parts in Becancour, Quebec. On top of the federal
subsidy, Ford and its associates—South Korea’s EcoPro BM and SK On
Co.—will get a $322 million “partially forgivable loan” from the
government of Quebec, according to Blacklock's Reporter. ---More...
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