The Canadian Federal and Ontario governments announced that they are investing approximately $1 billion combined into an electric vehicle (EV) battery component plant in eastern Ontario.
The up to $2.761-billion Umicore facility in Loyalist Township will build cathode active materials and precursor cathode active materials.
Ottawa is set to put $551.3 million toward the project and Ontario is set to spend up to $424.6 million in capital costs.
“The plant is going to create 600 direct jobs and I always say in the auto sector, there’s seven spinoff jobs for every one job that we see here,” said Ontario Premier Doug Ford.
Production is set to begin in early 2026 and the facility is expected to produce enough battery materials to support 800,000 electric vehicles per year, Ontario Economic Development Minister Vic Fedeli said.
Two EV battery plants are also in the works in Ontario from Volkswagen in St. Thomas and Stellantis LG in Windsor, Ontario.
Filed Under: Batteries, Technology News