Quebec is in talks with battery makers and automobile companies looking to invest about C$15 billion ($11 billion) in the Canadian province over the next three years to build electric vehicle (EV) supply chains, the head of its government-owned investment company told Reuters. Quebec is leveraging its rich critical mineral resources and an EV supply chain that it has put in place to attract companies to the province. The move is aimed at helping auto makers to diversify their supply chains and increase their reliance on reliable partners like Canada, Investissement Quebec CEO Guy LeBlanc said on Thursday.
TORONTO - Quebec is in talks with battery makers and automobile companies looking to invest about C$15 billion in the Canadian province over the next three years to build electric vehicle supply chains, the head of its government-owned investment company told Reuters.
LeBlanc said Quebec has secured C$15 billion over the past three years and another C$15 billion is coming in the next three years. Over the past three years, Quebec has attracted investments from auto and battery makers such as General Motors POSCO and Ford Motors. The biggest investment was announced on Thursday when Swedish battery maker Northvolt announced plans to build a $5.2 billion plant in the province.
The Canadian government has wooed investments by providing subsidies worth C$28.2 billion for auto makers such as Stellantis and Volkswagen.
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