Ottawa has reached a deal with a global materials technology and recycling group to build a new battery facility in Ontario’s Loyalist Township that will…
Prime Minister Justin Trudeau announced the partnership with Belgium-based Umicore N.V. on Wednesday, saying it would result in a new facility that will provide materials for one million electric vehicles a year.
Umicore plans to make a $1.5-billion investment to build the cathode and precursor materials plant, the province said, noting that cathodes make up about half of the value of an electric vehicle battery.Article content Mathias Miedreich, CEO of Umicore, said three reasons led to choosing Loyalist Township and Ontario for the “gigafactory.”
“The third was the availability of talent, critical talent, and here especially the area Loyalist Township and Kingston,” he said, noting that was the “decisive” factor.
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