Stellantis reviewing written offer related to Windsor EV battery plant
Stellantis and LG Energy Solution are reviewing a written offer related to the EV battery plant in Windsor.
Negotiations with the federal government have been stuck since mid-May and a portion of construction was stopped at the site on Banwell Road.
Here is the statement issued by Stellantis on Tuesday.
“Stellantis and LGES are in receipt of a written offer that is currently under financial and legal review. We have nothing further to add at this time,” said the statement.
Stellantis has threatened to move the plant out of Windsor if it doesn't get what it says it was promised by the federal government in an agreement reached in February.
Industry Minister Francois-Philippe Champagne said Tuesday that progress is being made and he’s very confident a deal will be reached but won’t negotiate in public.
Last week, Champagne said he made an offer similar to what the federal government and Ontario gave Volkswagen for an electric vehicle battery plant in St. Thomas, Ont.
That deal could be worth up to $13 billion over 10 years.
Stellantis and LG Energy Solution announced their plans to build the facility in March 2022. The federal and provincial governments pledged $1 billion as capital for the project.
But the United States changed the landscape last summer when it announced new production tax credits for EV battery makers as part of the Inflation Reduction Agreement.
That prompted the companies to ask for more government support.
Ontario Minister of Economic Development, Job Creation and Trade Vic Fedeli said at Queen's Park Thursday it is now up to the federal government to close the deal, but the province will be there to support.
The Ontario government offered to increase the $500-million subsidy already offered to Stellantis.
~ With files from The Canadian Press in an article that was first published June 1, 2023.
CTVNews.ca Top Stories
Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
'Anything to win': Trudeau says as Poilievre defends meeting protesters
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
'My stomach dropped': Winnipeg man speaks out after being criminally harassed following single online date
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Pilot reported fire onboard plane carrying fuel, attempted to return to Fairbanks just before crash
One of the two pilots aboard an airplane carrying fuel reported there was a fire on the airplane shortly before it crashed and burned outside Fairbanks, killing both people on board, a federal aviation official said Wednesday.
'One of the single most terrifying things ever': Ontario couple among passengers on sinking tour boat in Dominican Republic
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
7 surveillance videos linked to extortions of South Asian home builders in Edmonton released
The Edmonton Police Service has released a number of surveillance videos related to a series of extortion cases in the city now dubbed 'Project Gaslight.'
Ukraine uses long-range missiles secretly provided by U.S. to hit Russian-held areas, officials say
Ukraine for the first time has begun using long-range ballistic missiles provided secretly by the United States, bombing a Russian military airfield in Crimea last week and Russian forces in another occupied area overnight, American officials said Wednesday.