Canada’s investment in EV battery plants expected to break even in 20 years, says budget watchdog ...Middle East

The Canadian government will recoup its investment in about 20 years for the two electric vehicle (EV) battery plants that Volkswagen and Stellantis-LG Electric Solutions are building, the country’s budgetary watchdog said on Tuesday. “We estimate that federal and provincial government tax revenues generated from the Stellantis-LGES and Volkswagen EV battery manufacturing plants over the period 2024 to 2043 will be equal to the total amount of production subsidies,” Parliamentary Budget Officer Yves Giroux said. “The Parliamentary Budget Officer’s analysis released today demonstrates that the Stellantis-LGES and Volkswagen investments are good deals for Canadians, the auto sector and our w

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