January 18, 2024
Northvolt has chosen Canada to establish its very first North American battery plant
Sweden-based Northvolt will invest $7 billion in an EV battery hub in Saint-Basile-le-Grand and McMasterville, Québec, which will include a cathode active materials facility, a battery cell manufacturing facility and a battery recycling operation.
This major investment in Northvolt is one of the largest to be announced in Quebec to date. In addition to driving the country’s economic growth, it will create jobs and solidify Canada’s position on the global stage in electric vehicle technology and creating some of the greenest batteries in the world.
The electric future of Canada
Northvolt has chosen Canada to establish its very first North American battery plant. This strategic decision is part of a series of recent foreign direct investment (FDI) announcements in the EV sector, including
- EcoProBM, SK On and Ford: August 2023 — Installation of cathode active materials production, Bécancour, Québec
- Volkswagen (PowerCo SE): April 2023 — Electric vehicle battery manufacturing, St. Thomas, Ontario
- Ford: April 2023 — Transformation of Oakville’s Assembly Complex into a Canadian electric manufacturing hub, Oakville, Ontario
- Umicore: July 2022 — Installation of an electric vehicle battery manufacturing facility, Loyalist, Ontario
- General Motors and POSCO Future M: March 2022 — Installation of cathode active materials production, Bécancour, Québec
- LG Energy Solution and Stellantis: March 2022 — Installation of electric vehicle battery manufacturing, Windsor, Ontario
- General Motors (GM) Canada: December 2022 — Canada’s first large-scale electric vehicle plant opens its doors to produce Brightdrop electric vans, Ingersoll, Ontario
These investments confirm that Canada stands out as a global leader in electric vehicle technology. Moreover, global companies from various sectors are choosing Canada for its numerous advantages, such as its raw materials, clean energy and world-class talent.
Invest in Canada: A catalyst for success
Behind this major investment in Northvolt lies the important role of Invest in Canada, which has worked in partnership with several other groups such as The Trade Commissioner Service of Global Affairs Canada; the Embassy of Canada to Sweden; Innovation, Science and Economic Development Canada; Investissement Quebec; Natural Resources Canada and Export Development Canada.
By supporting Northvolt through every stage of this investment, we continue to secure Canada’s position on the global stage in battery manufacturing. This translates to the creation of new jobs, a stronger economy, and a cleaner, more sustainable future for all Canadians.
Canada’s commitment to sustainability, clean energy and innovation strongly resonates with investors, aligning perfectly with the evolving priorities of the automotive industry in Canada.
Invest in Canada continues to work towards a greener and more prosperous future for communities across the country, from coast to coast.
Ontario Strengthening Electric Vehicle Supply Chain Through Investments in Mineral Exploration Projects
The Ontario government is investing close to $9 million to help junior mining companies finance early exploration projects to find critical minerals used in electric vehicles, smart phones, laptops, medical equipment and renewable energy. The funding is being delivered through the Ontario Junior Exploration Program (OJEP), which helps boost growth and job creation in the province, particularly in northern and Indigenous communities.