Mr. Speaker, with respect to key milestones, it was announced on March 23, 2022, that LG Energy Solution and Stellantis had created a joint venture with a total investment of more than $5 billion Canadian, or $4.1 billion U.S., toward a facility to manufacture batteries for electric vehicles in Canada. As per the announcement, the plant construction activities were scheduled to begin in late 2022, with production operations planned to launch in the first quarter of 2024. The facility will be operational by 2025. This news was shared on the Government of Canada’s website, found here: https://www.canada.ca/en/innovation-science-economic-development/news/2022/03/government-of-canada-welcomes-largest-investment-in-canadas-auto-industry-with-the-first-large-scale-domestic-ev-battery-manufacturing-facility.html.
Following this announcement, on July 6, 2023, LG Energy Solution, Stellantis, the Government of Canada and the Province of Ontario released additional information about the project and the level of support to be provided to secure this investment. Information with respect to the government’s obligations under the special contribution agreement was released in a statement from Innovation, Science and Economic Development Canada. The statement can be found here: https://www.canada.ca/en/innovation-science-economic-development/news/2023/07/canada-and-ontario-establish-an-auto-pact-to-secure-stellantis-lges-and-volkswagen-deals.html.