Overview

• The Auditor General’s office formally launched the probe on July 29 to review subsidies granted under former Economy Minister Pierre Fitzgibbon.
• The investigation targets $270 million awarded to Northvolt’s Swedish parent before its bankruptcy filing in Europe and $177 million given to school bus maker Lion Electric.
• Quebec’s pension fund manager, the Caisse de dépôt et placement du Québec, also invested $200 million in Northvolt prior to its financial collapse.
• Lion Electric entered creditor protection in December and has since been acquired by a group of Quebec investors aiming to relaunch the company.
• A spokesperson for the Auditor General’s office confirmed that auditors and provincial officials are cooperating but declined to detail the scope beyond a spring 2026 report deadline.