Swedish cell producer Northvolt is planning to build its North American cell production plant in Quebec, Canada. According to information from ‘The Globe and Mail’, the project is expected to be realized in Saint-Basile-le-Grand in the Richelieu Valley, and the estimated cost of the factory is around 7 billion US dollars.
Québec is striving to establish itself as a leading center for electric vehicle battery development, attracting companies with its environmentally friendly hydroelectric potential as well as financial support from the federal government. Prime Minister François Legault and his cabinet colleagues see these efforts as the beginning of a new industrial revolution. The planned investments are on a scale not seen in the province since Hydro Québec’s major projects in the 1950s and 1960s.
Québec bid to locate the plant as Canada seeks to compete with the U.S. cleantech industry, which received a boost last year from incentives under President Biden’s ‘Inflation Reduction Act.’ The Ottawa and provincial governments have allocated billions in public funds to encourage battery manufacturers and suppliers to set up production facilities in Quebec and Ontario