Federal, Ontario subsidies for EV battery plants may take 20 years to break even: Budget watchdog

Parliamentary Budget Officer report says federal, Ontario governments will take 20 years to break even on $28.2B in subsidies to EV battery plants.

PBO report makes conservative estimates, doesn't assume widespread economic growth like government's projections.

Ottawa pledged up to $13B for VW plant, Ontario and Ottawa together pledged $15B for Stellantis-LG plant.

Governments say PBO doesn't account for spinoff investments and job creation in EV supply chain.

Provincial and federal politicians defend subsidies as strategic investments in generational opportunities.