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Canada, Ontario governments put nearly $1B toward EV battery parts plant


The federal and Ontario governments are jointly investing nearly $1 billion in the Umicore electric vehicle battery component plant in Loyalist Township, eastern Ontario. With a total cost of up to $2.761 billion, the facility will produce cathode active materials and precursor cathode active materials. Ottawa is contributing $551.3 million, and Ontario is allocating up to $424.6 million for capital costs. Ontario Premier Doug Ford hails Umicore's investment as a significant vote of confidence, anticipating the creation of 600 direct jobs and additional spinoff employment in the auto sector. Set to commence production in early 2026, the plant aims to supply battery materials for approximately 800,000 electric vehicles annually, reinforcing Ontario's role as a key player in green technology. François-Philippe Champagne, Federal Innovation Minister, emphasizes the economic benefits and job opportunities, positioning Canada as a "green supplier of choice." Umicore CEO Mathias Miedreich highlights the plant's uniqueness, combining cathode active materials with precursors, marking the beginning of the company's battery materials supply chain in North America. Additionally, two other electric vehicle battery plants are underway in Ontario – Volkswagen in St. Thomas and Stellantis LG in Windsor.


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