Québec has every component needed to supply lithium-ion batteries to the global market, it just needs a foundation to build an industry upon.
This comes from a new report commissioned by KPMG, which forecasts that the number of electric vehicles sold will be as much as 26 times more that it is now by 2030. It says the province is in a prime position to capitalize on the rapid growth of this industry and believes demand will vastly exceed lithium-ion battery production.
The study recommends a development plan should outline refining ore to the quality required for lithium-ion batteries, including its components: graphite, cobalt, nickel and iron.
Seven lithium mines are in development and Québec’s Economy Minister Pierre Fitzgibbon said the government wants to launch a strategy to develop the lithium-ion battery industry this fall.