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Governments Bet $330M on Quebec’s Battery Industry

November 18, 2024 by Newsdesk

The federal and Quebec governments will invest nearly $330 million to expand the Bécancour Port and Industrial Park, bolstering Quebec’s electric-vehicle (EV) battery supply chain. Each government will contribute up to $163.8 million to increase storage capacity and reduce congestion.

Despite financial troubles facing battery suppliers like Northvolt and EcoPro, the federal government is optimistic about “rapid growth” in the sector. The project aims to solidify Bécancour’s position as a logistics hub for the battery industry, supporting regional EV growth and enhancing infrastructure for future investments.

Want to know more? Check out the source code on Canada.ca.

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