The Globe and Mail reports in its Wednesday edition that Northvolt, a supplier of electric-vehicle batteries to Volkswagen and BMW, has picked Quebec to host a new multibillion-dollar factory. The Globe's Nicolas Van Praet and Jeffrey Jones write that the proposed production facility is valued at an estimated $7-billion (U.S.). Quebec is trying to make the province a hub for EV battery development, and it is luring companies with its low-carbon hydroelectricity and financial backing in tandem with the federal government. Quebec's decision to open the taps for battery companies is not universally supported. At a lunch event last week with the Chamber of Commerce of Metropolitan Montreal, National Bank of Canada chief executive officer Laurent Ferreira said he is "not a big fan" of using subsidies to attract foreign enterprise to Canada when the country could prioritize support for local business instead. Mr. Ferreira said: "When we give subsidies to foreign companies, they go directly into the pockets of foreign shareholders who are mainly not Canadian. I have my doubts about this model over the long run in terms of wealth creation." Northvolt's ownership group includes Volkswagen, BMW and Goldman Sachs.