RE:QIMC Contributes to HPQ Silicon Battery InitiativeRight up HPQ's alley posted on the CEO site
Published in the newspaper "La Presse" today. VOLKSWAGEN BATTERY MEGA-FACTORY IN ONTARIO A SYMBOL OF RESISTANCE TO AMERICAN PROTECTIONISM, ACCORDING TO OTTAWA JULIEN ARSENAULT THE PRESS Ottawa sees in Volkswagen – which will build a battery factory in Ontario – the example of resistance to American protectionism. In the Quebec electric transport sector, which is advocating for a strengthened strategy on Washington's offensive, we would have liked to be more reassured. As a curtain raiser for the International Electric and Intelligent Transport Summit (TEI), which brings together some 1,200 representatives in Montreal until Wednesday, it was the German automaker that caught the eye. Volkswagen on Monday confirmed La Presse reports released last December that it will build a mega-plant for batteries for electric vehicles in Ontario, specifically in St. Thomas. This multi-billion dollar project, the value of which has not yet been revealed, is the "biggest investment in Canadian automotive history", according to the Minister of Innovation, Science and Industry, Franois-Philippe Champagne . The latter considers the announcement to be “great news” for Quebec, where the foundations are being laid for an ecosystem bringing together the manufacturers of the main elements of a battery for electric vehicles, such as cathodes and anodes. “We are talking about 60% of the value of a battery, said Mr. Champagne, in a press briefing. This client [Volkswagen] will be on the Ontario side. When you grow the ecosystem and bring in big players, it brings success. » A disturbing policy .. The arrival of Volkswagen in Canadian territory comes as the Inflation Reduction Act (IRA) – a law of the Biden administration endowed with an envelope of 370 billion US to support, among other things, everything relating to the production of batteries for electric vehicles - worry. Some fear that US subsidies will short-circuit battery industry projects planned on this side of the border. By setting the table for a speech by Prime Minister Justin Trudeau, the president and CEO of Propulsion Qubec, Sarah Houde, wanted to send a message. “Our trading partners, whether the European Union or the United States, are adopting green industrial policies,” said Ms. Houde, advocating for the same kind of initiative in Canada. They identify their priority sectors and devote efforts to them. » A report written by senior federal officials last fall obtained by La Presse revealed that the United States could steal projects in Canada in the field of batteries for electric vehicles thanks to the IRA. Timid signals Mr. Trudeau did not respond to Ms. Houde's request when he addressed the summit participants. Instead, he welcomed the progress made in transport electrification so far and that his government would "continue to make the investments necessary to succeed". Asked about the need to develop a response to the IRA at a press conference, the Minister of Innovation, Science and Industry replied that “we cannot do everything” The arrival of Volkswagen in Canadian territory comes as the Inflation Reduction Act (IRA) – a law of the Biden administration endowed with an envelope of 370 billion US to support, among other things, everything relating to the production of batteries for electric vehicles - worry. Some fear that US subsidies will short-circuit battery industry projects planned on this side of the border. By setting the table for a speech by Prime Minister Justin Trudeau, the president and CEO of Propulsion Qubec, Sarah Houde, wanted to send a message. “Our trading partners, whether the European Union or the United States, are adopting green industrial policies,” said Ms. Houde, advocating for the same kind of initiative in Canada. They identify their priority sectors and devote efforts to them. » A report written by senior federal officials last fall obtained by La Presse revealed that the United States could steal projects in Canada in the field of batteries for electric vehicles thanks to the IRA. Timid signals Mr. Trudeau did not respond to Ms. Houde's request when he addressed the summit participants. Instead, he welcomed the progress made in transport electrification so far and that his government would "continue to make the investments necessary to succeed". Asked about the need to develop a response to the IRA at a press conference, the Minister of Innovation, Science and Industry replied that “we cannot do everything”.