Swedish electric car battery manufacturer Northvolt has announced that it will invest approximately 5 billion euros to build a new electric car battery factory in Canada. The complex will include not only the production plant of the batteries themselves, but also a workshop for the preparation of raw materials and a battery recycling area.
It is planned that this plant will be located in the province of Quebec, near the metropolis of Montreal. With the factory operating at full capacity, electric car batteries with a total capacity of 60GWh will be produced annually. This is a long-term goal. Volumes of 30GWh are planned for the first phase of the project, and work should start by the end of this year.
If the construction is not delayed, the work at the factory will start in 2026, gradually trying to increase the volumes. Estimates show that Northvolt will provide about 3,000 new jobs in this complex.
Company representatives indicate that the specific location was chosen through a careful selection process, analyzing various possible locations in North America. One of the strongest arguments for Canada, especially Quebec, was the location of hydroelectric power stations in the region, which means that the plant can be powered by electricity produced by the HPP and from renewable resources.
The federal government of Canada and the government of Quebec also lent their support to the project, which is estimated to be the largest private investment project in the province’s history.
Northvolt currently manufactures electric car batteries in Sweden, but the company has several expansion projects in both Europe and now North America. It is known that Northvolt has concluded impressive battery supply contracts with large European car manufacturers worth tens of billions of euros. Which automakers plan to buy Canadian-made batteries has yet to be announced.
2023-10-01 10:00:00
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