Mr. Speaker, I am happy to respond to comments made by the hon. member for Calgary Centre regarding contributions to Lion Electric and, more specifically, how much these contributions have cost taxpayers.
In March 2021, the Government of Canada announced supports to Lion Electric, which included a $49.95-million contribution through the strategic innovation fund for Lion's automated battery-pack assembly plant project. At the time, the SIF program administered the net-zero accelerator initiative, which supported investments to establish Canada as a global clean technology leader, enabling decarbonization and industrial transformation while capitalizing on new growth opportunities.
As is done for all SIF projects, rigorous due diligence was conducted to ensure that Lion Electric's project aligned with federal objectives before a contribution was committed. Since that time, the company has faced a number of financial challenges, which have resulted in the company's seeking credit protection in late 2024 and ultimately being sold to a group of Quebec-based investors in 2025. SIF has committed to a partially repayable contribution for Lion, of which $31 million has been disbursed according to the public accounts of Canada. The Government of Canada has been monitoring the situation closely and has worked with Justice Canada and the court-appointed trustee to evaluate the next steps.
Electric vehicle and battery supply chains are complex and require considerable investment to bring as much of this value chain as possible to Canada. Responsible risk-taking is an inherent part of supporting innovation in a competitive global economy.