The plant would produce battery precursor active material and battery cathode active material, filling in missing pieces and adding a new eastern terminus to Ontario’s emerging battery supply chain, which already includes a battery cell manufacturing plant.
“We are most grateful to the Canadian and Ontario governments for their support and for their readiness to co-fund this planned project,” Mathias Miedreich, chief executive of Umicore, said at a press conference at Queen’s University announcing the project, attended by Prime Minister Justin Trudeau.Article content
Umicore, the largest producer of cathode material outside of Asia, said construction on the plant would begin in 2023 and target first production in late 2025. The plant will encompass nearly 350 acres in Loyalist Township and is expected to create several hundred jobs. Once fully operational, it is expected to produce enough cathode material for one million vehicles.Article content
Ontario Premier Doug Ford, left, and federal Minister of Innovation, Science and Industry François-Philippe Champagne, right sit in the back of a pickup truck at GM Canada’s Canadian Technical Centre, in Oshawa, in April.That built on other automakers’ plans to convert one or more of their auto plants in Canada to build electric vehicles. In 2020, Ontario and the federal government each agreed to contribute $295 million, or $590 million in total support to Ford Motor Company’s planned $1.
The latest announcement that Umicore is building its plant near Kingston brings Canada’s auto sector further east than it had historically been, with a new 400-kilometre corridor now stretching all the way from Windsor.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: nationalpost - 🏆 10. / 80 Read more »
Source: financialpost - 🏆 7. / 85 Read more »