Top 10 Automotive Stories of 2023
Ontario Lands Volkswagen Battery Plant
On March 13, Volkswagen and its battery company PowerCo announced the selection of St. Thomas in Ontario to establish the automaker’s first overseas gigafactory for battery manufacturing. The start of production is planned for 2027.
A month later, Canadian Prime Minister Justin Trudeau pledged up to $13.2 billion in subsidies over 10 years. However, thanks to Parliamentary Budget Officer Yves Giroux, we learned in June that the battery plant in St. Thomas will cost the Canadian government more money and create fewer jobs than expected.