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Quebec auditor slams government for poorly planning subsidies for battery companies
The auditor said 29 files on 11 companies showed weak risk checks and follow-up, with about $1.9 billion already disbursed.
- Auditor General Christine Roy released a report today in the National Assembly detailing how the Legault government's $2.2 billion investment in the battery sector suffered from poor planning and insufficient risk evaluation.
- The Coalition Avenir Quebec launched its battery plant strategy in October 2022, but auditors found officials failed to properly document risks or rigorously follow up on conditions attached to aid packages.
- Six of the 11 companies analyzed have filed for creditor protection or abandoned their projects, including The Swedish-owned Northvolt, which received $507 million, and Lion Electric, which received $127 million in government aid.
- The four bankrupt companies received 89 per cent of the grants, while three other projects experienced $1 billion in cost overruns; the government has earmarked about $700 million for potential losses.
- Officials stated the full extent of financial losses remains incalculable as the government manages fallout from the strategy directed by former minister Pierre Fitzgibbon, who resigned from politics in 2024.
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The Toronto Star+17 Reposted by 17 other sources
Billions of public money to battery companies poorly planned, Quebec auditor says
QUÉBEC - Quebec's auditor general says the provincial government showed poor planning in $2.2 billion of investments in various battery companies.
·Toronto, Canada
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In the battery industry, the caquist government paid close to $700 million to companies that subsequently went bankrupt, concludes the Auditor General of Quebec, who denounces an "unplanned" approach, with no goals or timelines.
·Montreal, Canada
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Total News Sources30
Leaning Left21Leaning Right3Center4Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
14%
11%
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