Ottawa tries to entice Canadian pensions to finance EV battery plants

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François\u002DPhilippe Champagne said the proposal would be a win for the automotive industry and for the retirement plans. Read more.

François-Philippe Champagne, the minister of innovation, science and industry, said the proposal would be a win for industry and for the retirement plans because it would speed up the building of plants to service growing demand for electric cars while providing stable returns to pensions.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.

It would also help clear a “bottleneck” by accelerating construction of production facilities to process critical minerals that are abundant in Canada such as lithium nickel, cobalt, manganese and graphite, he said.Article content “If you talk to the major car manufacturers, we’ll need dozens of them,” Champagne said, adding that a single plant could cost $5 billion.

“So what I’ve been trying to discuss with them is whether we can us pension funds where you have patient capital coming in helping to build these asset and then lease them back in order to accelerate and increase capacity.” He suggested Canada has an edge over countries such as Australia with similar labour and environmental standards because it is close to a large automotive hub in the Windsor-Detroit corridor.

 

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Only is it goes hand in hand with investments in hydrogen, O & G, solar panels, solid hydro construction. Keep it all equal and set that competition between each industry in parallel for investment dollars.

I would not invest in it if the Liberals have a hand in running it.

Hope he has a business plan that shows future profits...

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