22:36:42 EDT Thu 16 May 2024
Enter Symbol
or Name
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CA



Linamar Corp
Symbol LNR
Shares Issued 61,528,157
Close 2023-05-19 C$ 65.15
Market Cap C$ 4,008,559,429
Recent Sedar Documents

Globe says Magna, rivals see Ford enlarge handout

2023-05-23 07:43 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Saturday edition that Ontario Premier Doug Ford is prepared to commit more money to Stellantis to keep its electric vehicle battery plant in the province. The Globe's Laura Stone and Adrian Morrow write that Stellantis, which is building the $5-billion plant in Windsor, Ont., with LG Energy Solution, said on Monday that they were halting construction on the project -- a decision prompted by a funding dispute. The plant was initially promised $1-billion in provincial and federal support. However, that was before the United States began offering billions of dollars in incentives to battery-makers through its Inflation Reduction Act, and before Ottawa, in a bid to match the American subsidies, committed as much as $13-billion to a second battery plant, being built in St. Thomas, Ont., by Volkswagen. Stellantis and LG now want their Canadian subsidy increased accordingly. Ottawa, in turn, has said Ontario needs to pay its "fair share" of the cost of saving the Stellantis deal -- without going into specifics. Mr. Ford said on Friday, "I will confirm we're putting more money on the table there." The Premier said he would not provide more details until an official announcement is made.

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