A slowdown in the electric-vehicle market has prompted top-level management changes at Belgium-based battery materials company Umicore, as well as launched an internal corporate review that could alter company scale-up plans, including those in Canada.
Umicore would not provide an update on the current state of construction in Loyalist on June 24, citing the ongoing review, but the company initially planned to begin commissioning the first phase of the plant in late 2025 and start production in early 2026. “I’m working with the teams to clarify the overall volume development that we see with our customers, and footprint is one of the considerations we’re looking at, but it’s way too early to make any conclusion on this right now.”
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