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Volkswagen CDR (CAD Hedged)
Symbol VWA
Shares Issued 80,000
Close 2026-08-31 C$ 8.30
Market Cap C$ 664,000
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Globe says Volkswagen's battery plant on-line in 2027

2026-09-01 08:51 ET - In the News

The Globe and Mail reports in its Tuesday edition that St. Thomas, Ont., long-known as the Railway Capital of Canada, will soon be recognized as being home to the country's largest electric vehicle battery plant. In a Globe special, Zakiya Kassam writes the gigafactory -- owned by EV battery maker PowerCo, a subsidiary of Volkswagen -- will include six production blocks across 370 acres, the size of more than 200 soccer fields. The plant, expected to start production in 2027, is just a part of the vision for St. Thomas's 1,500-acre Yarmouth Yards industrial park. The megasite will accommodate other industrial businesses, as well as new and expanded infrastructure, to support the city's burgeoning industrial scene. The project comes as Canada strives to expand domestic EV production and support the adoption of zero-emission vehicles across the country, with the feds targeting 75 per cent of new vehicle sales to be zero-emission by 2035 and 90 per cent by 2040. While the PowerCo plant in St. Thomas will be a private commercial operation, the federal government is investing $16-billion to support production and the tax adjustments required to make the after-tax value of the investment comparable with in the United States.

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