Quebec auditor flags $2.2B in poorly planned battery company investments
Auditor general Christine Roy found CAQ government lacked clear objectives and timelines for funding 11 battery firms.
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Quebec's auditor general has flagged significant gaps in how the provincial government handed out $2.2 billion to battery companies, saying the investments lacked clear objectives and timelines.
Christine Roy's office analyzed 29 files related to 11 battery-sector companies, representing roughly $2.2 billion in authorized financial assistance as of September 30, 2025. About $1.9 billion of that had been disbursed by then.
The audit revealed troubling outcomes: four of the 11 companies have filed for creditor protection, while two others have suspended or abandoned their projects. The firms analyzed include electric vehicle maker Lion Electric and battery manufacturer Northvolt, whose Swedish parent company went bankrupt in March 2025.
The report was released today by the Coalition Avenir Québec government.