The logo of German carmaker Volkswagen is seen on a rim cap in a showroom of a Volkswagen car dealer in Brussels, Belgium July 9, 2020. REUTERS/Francois Lenoir/File PhotoPlant in Canada can also qualify for IRA subsidieschose Canada to build its first battery cell plant outside Europe, granting its cars access to both Canadian and U.S. subsidies as it works to localise electric vehicle production chain in the region.
Canada, home to a large mining sector for minerals including lithium, nickel, and cobalt, is trying to woo companies involved in all levels of the EV supply chain via a multi-billion dollarto safeguard the future of its manufacturing heartland in Ontario - the most populous of the 10 provinces - as the world seeks to cut carbon emissions.
"This is a home run for Canada ... when you have a home run like that, you have to celebrate and say, 'Yes, we won'," a jubilant Canadian federal Innovation Minister Francois-Philippe Champagne told reporters.
We don't want filthy batteries
This new GigaFactory by VWGroup VolksWagen here in Ontario Canada is a HUGE victory for 🇨🇦 StGeorgesPlat and all in the ElectricVehicle / BatteryMetals Ecosystem. 🎯💪 $SX $SXOOF TSXv TSX OTCQB OTCMarkets Mining MiningNews Investors NASDAQ
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