The Globe and Mail reports in its Thursday, June 11, edition that Quebec's ambition to become a global hub for electric battery manufacturing has been criticized by the province's Auditor-General, Christine Roy. The Globe's Nicolas Van Praet writes that Ms. Roy described the government's 2020 strategy as "largely unplanned" and pointed out that it offers taxpayers little ability to evaluate its effectiveness. The Auditor-General's findings reveal a government carelessly investing in the battery sector without adequate due diligence and follow-up. This also reflects Francois Legault's failure, as he prioritized battery industry development before leaving his position as Quebec premier earlier this year.
His Coalition Avenir Quebec government bet big on the battery industry as a way to stoke future growth. So far, however, it has little to show for the effort as the industry undergoes a sharp correction.
Ms. Roy says no complete portrait exists of all the different investments the Quebec government has made to help battery industry players.
Ms. Roy found that the government offered backing worth $760-million to four companies that filed for creditor protection, including bus maker Lion Electric, though those aren't necessarily losses because some funds could be recouped.
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