Auto industry analysts say Canada paid a big price to bring Volkswagen’s first North American electric vehicle (EV) battery plant to St Thomas, Ont., but whether that money will deliver lasting benefit to the economy is a matter of debate.
On Wednesday, parliamentary budget officer Yves Giroux released a report detailing his calculations.
Giroux said it would cost the public at least $16.3 billion to build the plant, $2.8 billion more than the federal government first announced in April because of the differences in U.S. and Canadian corporate tax rules. It’s expected production at the plant will start in 2027.
Giroux called the $16.3-billion sum “significant,” but
