Prime Minister Trudeau and Premier Legault Announce New Electric Vehicle Battery Plant in Quebec

Last week, Prime Minister Trudeau and Quebec Premier Francois Legault announced that Northvolt AB, a Swedish company, will be constructing a $7 billion electric vehicle battery plant outside Montreal.
Prime Minister Trudeau described it as a “historic and transformative announcement.” Premier Legault referred to the project as “the biggest private investment in the recent history of Quebec.”
The federal government has pledged $1.34 billion towards the construction of the plant, in addition to more than $3 billion in production incentives. Quebec has committed $2.9 billion for construction of the plant, in a combination of debt and equity financing.
The battery plant is projected to begin operations in 2026, with initial capacity to produce enough batteries to power one million electric vehicles per year. It is also expected to create up to 3,000 jobs in the region, and contribute $1.6 billion to the Canadian economy.
Author: Noah Lew
Photo Credit: istock.com/Halfpoint.
Authors
Expertise
Insights
-
Technology
Xatoms Launches Water Purification Pilot Projects with $3 Million in Pre-Seed Funding
Xatoms recently announced the completion of C$3 million in pre-seed funding (C$2 million in equity and C$1 million in non-dilutive grants) to begin commercializing its technology for both industrial… -
Technology
From Lab to App: NiaHealth Raises C$5.75M to Redefine Canadian Health Monitoring
The Alberta-based startup NiaHealth has secured C$5.75 million in seed funding to support its mission of transforming long-term health management for Canadians. The company is attempting to position… -
Technology
Canada Growth Fund Commits $89M to Calgary Cleantech Firm Eavor, with Potential for Additional $48M
The Canada Growth Fund (“CGF”) has announced a C$89 million investment in Calgary-based Eavor Technologies (“Eavor”), a global leader in closed-loop geothermal energy. An additional C$48 million may… -
Technology
Alta raises $11M to bring AI Fashion Tech to Life
Alta Daily (“Alta”), founded by Jenny Wang, is an innovative startup that is transforming how artificial intelligence can assist users with personal styling. Shortly after launching the company, Wang… -
Technology
Web Summit Vancouver 2025: A Resounding Success
Web Summit is a growing international technology conference that has rapidly become “one of the world’s biggest and best”. As the predecessor to Toronto’s highly-successful Collision conference, Web… -
Technology
Microsoft $400 Million Investment in Swiss Data Centres
Microsoft recently announced a US$400 million investment in its Swiss data centres to develop cloud computing and AI infrastructure in the country. The money will be used to expand and upgrade four of…