There is a battery supply chain plant near Kingston.
The most valuable part of a vehicle is the batteries.
The photo was taken by Krisztian Bocsi.
The federal and provincial governments are expected to provide significant financial support for the Umicore battery supply chain plant.
The plant would fill in missing pieces and add a new eastern end to the battery supply chain.
The federal government and Ontario provided financial support to Umicore, but did not give any details. Both levels of government have said that publicizing details would compromise negotiations with other battery and electric vehicle manufacturers. Hundreds of millions of dollars in forgivable loans are expected to be used for such a project.
Financial support has been justified as a necessary step to ensure the vitality of Canada's auto industry, the country's second largest export, but also the overall health of the economy. They are important to a wide range of motorized technologies.
There is a bar of gold. Chemicals and materials are the company's specialty.
The photo was taken by Mr. Gebert.
The Canadian and Ontario governments are most grateful to Umicore for their support and willingness to co-fund the project.
He said the facility will help Canada and Umicore achieve a carbon neutral battery supply chain.
At the press conference, Franois-Philippe Champagne, Minister of Innovation, Science and Industry, said he had been talking to Miedreich since January, trying to convince him to build out his operations in Canada.
Umicore, the largest producer of cathode material outside of Asia, said that construction on the plant would begin in 2023 and that first production would take place late in the 20th century.
As much as 50 percent of a battery's value can be accounted for by cathode active material.
In partnership with the South Korean chemicals company Posco, the European materials company has announced a $500-million plant in the industrial city of Becancour, Quebec.
The country's first industrial-scale precursor material manufacturing plant is part of Umicore's investment in Ontario.
Hundreds of jobs will be created by the plant in Loyalist Township. It is expected to produce enough material for a million cars.
The Minister of Economic Development, Job Creation and Trade in Ontario said it was an important investment.
The first battery cell manufacturing plant in Canada will be located in Windsor, Ont., just across the river from Detroit. It is expected to create 2,500 jobs.
Ontario premier Doug Ford and federal minister of innovation, science and industry Franois-Philippe Champagne sat in the back of a pickup truck at GM Canada in April.
The Canadian Press took a photo.
One or more of the auto plants in Canada will be converted to make 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.
The BrightDrop light-duty electric commercial delivery vehicles will be produced in Canada.
Toyota and Honda have also pledged to invest in the province.
The federal and Ontario governments have spent over a billion dollars in recent years to encourage the construction of facilities there.
Although neither government disclosed its spending on the $5 billion battery cell plant in Windsor, a Liberal member of Parliament said that the federal government would contribute $500 million.
A more powerful battery absolutely changes the way the auto industry designs and positions products
Flavio Volpe
Canada's auto sector has historically been further east than it is now, with a new 400 kilometer corridor stretching from Windsor to Kingston.
Industry insiders say that the technology at the center of transportation for the past century is not a perfect comparison for batteries.
As the batteries in vehicles grow stronger, it will allow for more computing power and more powerful software. At the same time that they roll out electric vehicles, they are also developing self-driving vehicles.
The way the automotive industry designs and positions products is changed by a more powerful battery. The core competencies for competitive jurisdictions are changed by it.
As electric vehicles emerge, the automotive industry may be more interested in investing in areas with a vibrant software and information technology sector, as opposed to areas close to steel manufacturing.
The next generation sees transportation as a tech component that makes their life easier or harder.
According to Champagne and Miedreich, a big topic of their conversation was Canada's talent pool.
Champagne said there would be more announcements in the future.
Canada is on a roll according to one CEO.
The email is gfriedman@postmedia.
The Financial Post is part of Postmedia Network Inc. There was an issue with signing you up. Try again.
All Rights Reserved © 2024
