“Canada has great potential to become a leader in the global Li-ion battery market,” a new analysis by Roskill states.
The research firm published the insight following the announcement by Lion Electric, a manufacturer of all-electric trucks and buses, of the construction of a C$185-million battery manufacturing plant and innovation center in Quebec.
The project is expected to receive a joint C$100-million investment from the federal and provincial governments and it is planned to begin operations in early 2023.
According to Lion, the factory will produce battery packs and modules made from lithium-ion cells, which should translate into a considerable reduction in the cost of its vehicle manufacturing, with a particular impact on the development of heavy-duty electric transportation.
Yearly production capacity is forecast to be 5 gigawatt-hours in battery storage, which means that the company will be able to electrify approximately 14,000 medium and heavy-duty vehicles annually.
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