Federal and Ont. Govts on Details of New Volkswagen Plant – April 21, 2023

Prime Minister Justin Trudeau and Ontario Premier Doug Ford hold a news conference in St. Thomas to discuss details of an agreement for Volkswagen to build its North American electric vehicle (EV) battery plant in the province. They are joined by federal minister François-Philippe Champagne (industry), provincial minister Vic Fedeli (economic development), Sean Dyke (St. Thomas Economic Development Corporation), Frank Blome (CEO, PowerCo SE) and Joe Preston (mayor, St. Thomas). The German automaker will invest $7 billion to build the plant, which will be the company's largest overseas factory of its kind to date. The federal government is expected to provide between $8 and $13.2 billion in subsidies for the plant, depending on battery production levels. (no interpretation)