European Automaker Stellantis Lowers Subsidy Requirements for the Canadian Government

European automaker Stellantis has lowered its demand for more public funding from Canada's local government for its joint venture with LG Energy Solutions, sources close to the talks said. Canadian Prime Minister Justin Trudeau and Ontario Premier Doug Ford are trying to prevent the project from being relocated to the United States because of the $5 billion investment and thousands of jobs involved in the joint venture electric vehicle battery factory.

If a settlement is reached, it would still mean billions of dollars in additional subsidy payments from Canada's federal and provincial governments. In March 2022, the federal and provincial governments each provided $500 million in subsidies to the automaker.

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