The Globe and Mail reports in its Saturday edition that Quebec is racing to build a next-generation transport industry. The Globe's Nicolas Van Praet writes that Swedish battery maker Northvolt is building a factory in the Montreal area with backing from the Quebec and Canadian governments.
It is the latest project in an ambitious economic vision that could see corporations working on battery materials spend billions more in various corners of the province. About $15-billion worth of investments by private-sector companies has been announced since Quebec launched its battery strategy in 2019, and $30-billion will be announced in all.
Quebec's cheap, green hydro-power has given it a leg up in many of these negotiations.
Several multinationals as well as companies scaling up, such as Northvolt, have made commitments to Quebec.
Quebec has provided public support for 12 projects tied to the EV industry so far, stretching from mining companies to battery cell makers such as Northvolt. Other companies that have investments include Nouveau Monde Graphite, electric school bus maker Lion Electric and electric snowmobile maker Taiga Motors. Private-sector spending of this scope is almost unheard of in Quebec.
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