The deal between Stellantis and LG Energy Solutions to continue construction on the NextStar electric vehicle (EV) battery plant could be worth up to $15 billion in tax breaks for the project, the province said Wednesday night. 

Victor Fedeli, minister of economic development, job creation and trade, told CBC News the province would provide up to $5 billion in tax breaks based on production over a 10-year term. He said the other $10-billion in tax breaks would come from the federal government.

“It’s not like the incentive money that the province and the feds delivered to the battery company,” he said. “We invested $500 million in capital.

This is like a performance incentive or a tax break. It’s not a cheque per se.”

The deal, he said, helps Ontario remain “competitive on the global stage.”

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