New Life for $500M EV Plant in Quebec

• Revive and upgrade an old plant in Quebec with C$750 million, partly funded by the Canadian and Quebec governments. Production has capacity for 2.5 million electric vehicle batteries and is expected to begin in 2026. Solus Advanced Materials Co. unit Volta Energy Solutions leading the project.

South Korean firm Solus Advanced Materials Co. unit Volta Energy Solutions is reviving an old plant in Granby, Quebec to produce copper components for electric vehicle batteries. The C$750 million ($550 million) investment is to be partly funded by the Canadian and Quebec governments, with a C$150 million loan from Quebec potentially forgiven if they meet job and other conditions. A further C$70 million may be provided by the Canadian government too. Production is expected to have capacity for 2.5 million vehicles in North America and is expected to begin in 2026. The facility already has other facilities in Luxembourg and Hungary.

Will C$750M Revive Granby Plant for EV Battery Parts?

• The investment is estimated to create 350 jobs when in full operation, with the potential to expand significantly over time.
• The plant is likely to process up to 30,000 tons of copper anodes for electric vehicle batteries each year.
• The facility is expected to be the largest of its kind in the world, with the capacity to process raw material from multiple sources.
• The project has been supported by local municipalities and business groups who view it as an opportunity to attract jobs and investment to the region.
• The government has also highlighted the role the project will have in helping to reduce emissions, with the production of EV batteries being a key part of the fight against climate change.
• The investment is also expected to provide a boost to the local economy, with the plant likely to benefit from spillover effects, such as increased demand for housing, infrastructure, and other services.