OTTAWA — Several companies, including Germany’s BASF SE, are in preliminary talks about tapping a federal clean tech fund to set up production for electric vehicle batteries in Canada, a government official with knowledge of the discussions said.
The talks are centered on understanding whether the goals of BASF and others fit with the aim of the C$8 billion ($6.6 billion) “Net Zero Accelerator” (NZA) fund, the source said. Canada has set a goal to reach net zero emissions by 2050.
BASF is a key supplier of cathode active materials (CAM) needed for the production of lithium-ion batteries in electric vehicles (EV), and is the world’s largest chemicals and plastics producer by sales.
“Canada is an interesting destination for potential production given its access to rising battery cell manufacturers in North America and its access to raw materials that are needed for the production of cathode materials,” BASF said in a statement to Reuters.
“BASF currently examines several options in various regions to further expand its production network in this fast growing market for battery materials and to continue to support its customers,” it added, without confirming the talks with the Canadian government.
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