Many more such incidents resulting in “lost value” and there will be no economy left capable of generating any value at all.
The Legault government has poured $270 million in Swedish parent company Northvolt AB, and Fréchette confirmed this sum “has lost its value.” The Caisse de dépôt et placement du Québec has also invested $200 million in the company.
Quebec granted Northvolt a further $240 million for the purchase of land in the Montérégie region. This sum is secured by collateral on the land and assets of Northvolt’s North America subsidiary, Fréchette said.
Same as usual, it is just actually gonna be Western Bananadas money that gets flushed down the drain. There is always more where that came from (the westerners for some reason still find comfort in riding around in the back of turnip trucks playing O Canada on their banjos).
Western Canadians take no comfort whatsoever from watching anyone wasting money on foolish and risky ventures. Sadly it’s true, Quebec will be back with its hands out for more and we will be forced by an unfair equalization formula to pay more. But it’s not western Canada that just fell off the turnip truck and made a dumb investment on a risky and proven inferior technology. If the brilliant investors in eastern Canada ( including Ontario and our brilliant financial minds in the federal government)put their money in stupid investments don’t think for one second that the resentment out here is not deep when we are forced to continue to support them..
Rathole … meet $$$$$ … lots of it. Thankfully that’s all in Cad. $
les gens français sont tout foux
Got the just the fix for this, YOUR pension!
As if your FAILED Canadian Govt. hasn’t already game played that out. “Yeah, we may have to execute a few reluctant seniors … but the young folk will support eliminating more ‘deniers’ anyway.”
Even if these plants had been built it would have been a total scam. Every Electric car coming down the line comes with a battery. IOW there is no shortage of batteries in the world. The existing battery factories are build all the batteries needed already.
Ontario’s battery investments are right behind it, and Canada’s too. It will be in the billions that has “lost it’s value” very shortly. Thank goodness the Caise only has Quebec pensions, of course they would get a bail out in a heartbeat if it came to that, so ultimately it is Alberta and Sask on the hook, as any “spare” money in Canada comes from there.
Lost it is value. Thank you, Peter.
Oh man! How stupid can these kweebeckers be??? I mean, why didn’t they “invest” in the same EV battery companies that Ontario’s genius Blubber Douggie did ?
In other stupid environmental news,
https://www.bbc.com/news/articles/c9vy191rgn1o.amp
So glad to see the billions of $$ in transfer payments from western Canada being spent so wisely. Bet there were a lot of good lunches involved in this failure.
Subsidies end and the grifters disappear.. Value :).. In some bum living rent free in your basement :).. But don’t fret, I’m sure upper management made out like bandits.. They always do..
These screw the taxpayer scams always have me humming “Go on, take the money and run”
https://youtu.be/qbGFrrifeEs?si=6ZsMIBMCHAc0VPCm
Does anyone appreciate the irony of Alberta Equalization dollars going to Quebec so they can invest in failing EV battery factories?
One hand clapping