Mr. Speaker, in response to part (a), no funding has been provided to date. The company has a strategic innovation fund contribution agreement for up to $700 million in support. In addition, Canada and Ontario have committed to providing production-based support of up to $13.2 billion.
In response to part (b), no funding has been provided to date.
In response to part (c), once the PowerCo/Volkswagen plant is operational, production support funding will be disbursed on a quarterly basis, based on battery cells produced and sold.
Capital expenditure support funding from the strategic innovation fund will be disbursed on a quarterly basis, based on claimed eligible project expenses.
In response to part (d), Innovation, Science and Economic Development Canada continues to monitor developments closely, including any changes to the advanced manufacturing production credit, AMPC, through the U.S. legislation “One Big Beautiful Bill.”
In response to part (e), the government announced up to $13.9 billion in support for the PowerCo electric vehicle battery manufacturing plant in St. Thomas, including $700 million in capital expenditure support through the strategic innovation fund, and up to $13.2 billion in production support to match the U.S. Inflation Reduction Act’s advanced manufacturing production credit, of which one-third is to be paid by Ontario.
The Parliamentary Budget Officer’s report is consistent with these financial commitments. There are some minor differences in methodology between the government’s analysis and the Parliamentary Budget Officer’s report. For example, in its calculation of the costs, the Parliamentary Budget Officer has included foregone tax revenue, which was not included in the government’s estimation.