OTTAWA (Reuters) – Canada agreed to provide subsidies of up to C$13 billion ($9.7 billion) over a decade plus a C$700 million grant to lure Volkswagen AG into building its North American battery plant in the country, a government source said confirming an earlier report by Bloomberg News.
The total Canadian investment, which could include funds from the Ontario government also, will largely match what Volkswagen would have got from the United States through the Inflation Reduction Act (IRA), the source said.
(Reporting by Steve Scherer, Editing by Franklin Paul)
