'No Deal Yet On Electric Vehicle Battery Plant In Windsor, Stellantis Says' - BNN Bloomberg
Portfolio Pulse from Happy Mohamed
Stellantis has not yet reached a deal to save a $5-billion electric vehicle battery plant in Windsor, Ontario. The company is in heavy negotiations with the Canadian federal government, Ontario, and LG Energy Solution over federal subsidies, and has threatened to move the plant if it doesn't receive the promised support.
June 01, 2023 | 4:26 pm
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Stellantis is in negotiations to save its $5-billion EV battery plant in Windsor, Ontario, and has threatened to move the plant if it doesn't receive the promised federal subsidies.
The outcome of the negotiations will directly impact Stellantis' plans for the EV battery plant. If a deal is reached, it could benefit the company by securing the necessary funding and support. However, if no deal is reached and the plant is moved, it could lead to delays and additional costs. The short-term impact on the stock price is uncertain, as the negotiations are still ongoing.
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