Northvolt AB, a supplier of electric-vehicle batteries to Volkswagen and BMW, has picked Quebec to host a new multibillion-dollar factory as the Swedish manufacturer pushes into North America.
Executives with the Stockholm-based company will join political leaders from the Quebec and federal governments for a formal announcement Thursday in Montreal to detail their plans, according to two sources briefed on the event. The Globe and Mail is not naming the people because they were not authorized to discuss the information.
Northvolt has been scouting sites in North America for an EV battery cell production facility, and chose Saint-Basile-le-Grand in the Richelieu Valley for its project, which is valued at an estimated US$7-billion. The factory’s main site would be on land formerly occupied by Canadian Industries Ltd., a maker of chemicals and explosives.
Quebec is trying to make the province a hub for EV battery development, and it is luring companies with its low-carbon hydroelectricity and financial backing in tandem with the federal government.
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