Post by Lawisfunon Feb 13, 2025 7:20pm
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Post# 36452834
It's not just Nano - Collapse of Canadian EV Supply Chain
It's not just Nano - Collapse of Canadian EV Supply Chain
“Investors want to see a return quickly. But the reality is that these returns will take quite a lot of time.”
The domino effect - Collapse of Canadian EV Supply Chain:
November 2022 - Britishvolt scrapped its plans to build a 60GWh battery cell gigafactory, an R&D centre and anode and cathode processing facilities in Bcancour, Que. due to “worsening global economic conditions” and the “very significant reduction in available investment capital.”
Summer 2024 - Ford moved away from its $1.8 billion plans to build EVs at its Oakville, Ont., plant.
August 2024 - Ford delays in its $1.2 billion joint venture with South Korean partners EcoPro BM and SK On to build a battery cathode factory in Bcancour, Quebec.
October 31, 2024 - Ford announced a complete withdrawal from its battery projects, citing fluctuating consumer demand for electric vehicles as a driving factor.
November 2024 - Umicore announced it was indefinitely pausing construction of its $2.76 billion battery materials plant in Loyalist, Ont.
December 2024 - Swedish battery maker Northvolt filed for bankruptcy protection in the U.S. and announced it is scaling back operations. These include partial shutdowns at its gigafactory in Sweden, the sale of its cathode material facility in Borlnge and relocating lithium-metal battery R&D from California to Vsters.
Northvolt EV battery plant in McMasterville, Que., will be delayed up to 18 months.
https://electricautonomy.ca/ev-supply-chain/2024-12-02/canada-ev-battery-supply-chain-challenges/