Canada can be a leader in the global electric-car battery market GlobeBusiness
Well aware of the room for growth, automakers are embracing electrification and racing toward innovation-driven EV models that they hope will lower costs and increase interest. Take General Motors: The leading American car maker has announced it is “on track” to meet its target of having 20 EVs in production by 2023. The Volkswagen Group plans to build 22 million EVs by 2028 and wants 40 per cent of its vehicle sales to be EVs by the end of the decade.
In this rapidly evolving industry, advanced battery materials will emerge at the forefront of economic opportunity. Electric vehicles are powered by rechargeable lithium-ion batteries, and the need for metal components essential to EV battery production will grow alongside consumer appetite. This is where Canada could and should enter the picture.
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