Global Trade Alert
Global Trade Alert

Canada: Ontario and federal governments to invest over CAD 8 billion in Volkswagen's subsidiary's EV battery plant

Announcement

21 Apr 2023

In April 2023, PowerCo, Volkswagen's EV battery-producing subsidiary, secured over CAD 8 billion (USD 5.92 billion) in subsidies from the federal government of Canada and the province of Ontario. 

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