Canada is racing to close deals for new plants to produce electric-vehicle batteries amid an increasingly heated North America-wide competition for investment in EV manufacturing.
Government negotiations with at least three companies looking to make major battery-building investments have reached a critical stage, sources familiar with the talks confirmed on Wednesday.
The most advanced involve construction of a manufacturing facility in Ontario by South Korea’s LG Energy, according to the sources, whom The Globe and Mail is not identifying due to the negotiations’ sensitivity.
The construction of the LG facility would be partly funded by the federal and provincial governments, and the sources said its primary client would likely be Stellantis NV, the company formed earlier this year by the merger of Fiat Chrysler and France’s PSA Group.
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