Stellantis will invest $2.8 billion (CAD $3.6 billion) in two of its Canadian operations to boost electric vehicle manufacturing. The money comes from Stellantis’ $35.5 billion commitment to electric vehicles and new software over the next year as part of its plan to phase out internal combustion engines and become carbon-neutral by 2038.
The Canadian government and the Ontario government will each contribute about a third of the new monies, a signal that Canada is keen to support domestic production of EVs at a time when advancing climate change initiatives coincide with increasing supply chain constraints.
Prime Minister Trudeau said at the event, “Today’s deal on made-in-Canada electric vehicles is yet another investment in our workers and in our future. We’re building a world-class Canadian auto industry, an innovative economy and a clean, strong future for everyone. This is what a healthy environment and a healthy economy looks like.”
