Canada forges new EV supply chain path in bid to secure growth
Canada, a major car and parts producer, is bolstering its battery and electric vehicle supply chain to ensure future growth for its vital $10-billion auto industry.
On Monday, General Motors and Posco Chemical announced a $400-million investment in a new Quebec facility to produce cathode active material, which represents about 40% of the cost of EV battery cells. Last week, German chemical giant BASF said it acquired a site for a battery materials facility in the province, taking advantage of Quebec’s hydroelectric power to reduce its carbon footprint.