Canada has agreed to provide substantial incentives to manufacturer Stellantis for the development of an electric vehicle battery plant in Ontario.
According to Reuters, the $3.8 billion joint venture aims to supply EV batteries to a significant portion of the North American market.
However, the project was halted in May due to alleged unfulfilled subsidies.
In a recent announcement, the Ontario and Canadian governments revealed a settlement that includes performance incentives of up to $11 billion for Stellantis (15 billion Canadian dollars).
The deal aims to protect and create thousands of jobs while strengthening the clean economy.
Additionally, a Volkswagen EV battery plant in St Thomas could receive up to $9.7 billion in incentives. Canada has been actively attracting investment in its electric vehicle sector and boasts a strong mining sector for essential minerals.
Battery production is set to commence in 2024, with construction of the plant in Windsor scheduled to begin soon.
