With the rapid acceleration of the global energy transition, an unprecedented opportunity presents itself in the electric vehicle (EV) supply chain. The government of Canada has its sights set on its domestic battery ecosystem and is successfully luring top-tier companies to make substantial investments.
Major global automakers like Volkswagen, General Motors and Ford are pouring billions into Canadian battery manufacturing and steering the nation toward a prominent role in the EV industry.
General Motors and Posco are set to launch a $600 million factory in 2025 that will produce crucial cathode-active materials for electric vehicle batteries. Additionally, Ford plans to invest over $800 million in a Quebec factory for EV battery components. Not to be outdone, Volkswagen has secured an exclusive $13 billion contract with Canada for an EV battery plant in Ontario, and Volta Energy Solutions is launching a $550 million battery copper foil factory for electric vehicles in Granby, Quebec.
With such active public-private collaborations, more projects of this sort are set to solidify Canada’s position as a leader in the green economy in North America.