LG, Stellantis project hangs in balance as Canada politicians fight over money
BNN Bloomberg
Canada’s industry minister says the Ontario government hasn’t committed to paying its “fair share” to help advance negotiations with automaker Stellantis NV over an electric-vehicle battery plant.
Francois-Philippe Champagne said the Canadian government will be competitive with the U.S. when it comes to the auto sector. “What we now need is for Ontario to pay its fair share. Full stop. Windsor is a key place to build our EV ecosystem,” the minister wrote Monday night on Twitter, referring to the southern Ontario city where the plant would be located.
Stellantis and LG Energy Solution Ltd. announced the project last year, but said Monday they’ve halted construction as they wage a battle for more public money from Canada. Prime Minister Justin Trudeau’s government has already offered up to $13 billion to Volkswagen AG to lure a vehicle battery plant to Ontario, Canada’s most populous province and the heart of its auto industry.
Champagne sent the tweet from South Korea, LG’s home country, where he’s on a trade trip with Trudeau. A spokesperson for Ontario Economic Development Minister Vic Fedeli didn’t immediately respond to a request for comment.
Iran’s Supreme Leader Ayatollah Mojtaba Khamenei issued his first statement on the war on Thursday, saying that the leverage of closing the Strait of Hormuz should be used and that Iran will keep attacking its Gulf Arab neighbors. Khamenei also called on Gulf countries to “shut down” U.S. bases, saying promised U.S. protection is “nothing more than a lie.”
Iran’s Supreme Leader Ayatollah Mojtaba Khamenei says that the leverage of closing the Strait of Hormuz should be used and that Iran’s attacks on Gulf Arab neighbours will continue. His first statement since his appointment was read on state television Thursday by a news anchor.
Prime Minister Mark Carney is again heading overseas, this time to Norway to observe NATO Cold Response exercises as Canada deepens ties with Nordic countries.
The Canadian Security Intelligence Service says the threat level in Canada from Iran or its proxies has not changed since the war in Iran began nearly two weeks ago, while adding that threat-related activities are “likely to continue.”
Ottawa is letting an unnamed automaker import a higher quota of U.S.-made vehicles without tariffs because the company is selling and making more cars in Canada than first expected.
World shares tumbled on Monday, with Japan’s benchmark Nikkei 225 index plunging more than 5%, after oil prices spiked at nearly $120 a barrel, casting a shadow over economies heavily dependent on imports of oil and gas from the Middle East.
Prime Minister Mark Carney announced Sunday the date for three upcoming byelections.
The price of oil surged higher and showed no signs of halting its rapid climb a week after the U.S. and Israel launched major attacks on Iran that escalated into a war in the Middle East.
Scott Moe says Canada needs to separate its trade talks from its national security concerns when dealing with certain countries if it is serious about diversifying trading partners beyond the United States.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.
Prime Minister Mark Carney has landed in Japan on the final stop of a 10-day trip that also included Australia and India.