TORONTO — The Ontario government is putting $250,000 toward the development of two battery production lines at a proposed new facility in the province’s north.
Electra Battery Materials Corporation says its future facility in Cobalt, Ont., could supply more than 1.5 million electric vehicles and employ up to 250 people.
The government says the production lines would be the first of their kind in Ontario and would help meet the demand for critical minerals that are necessary for electric vehicle production.
Electra Battery Material Corporation’s president and CEO says it’s a good opportunity as Ontario is home to North America’s only battery-grade cobalt refinery, as well as an abundance of nickel and clean hydro-electric power.
Shortly after coming to power in 2018, Premier Doug Ford’s government scrapped electric vehicle rebates, stopped building charging stations and dropped a requirement for new homes to include the wiring for potential EV chargers.
But now, the government’s auto strategy focuses on repositioning the sector to be a leader in electric vehicle production, aiming to build at least 400,000 electric vehicles and hybrids by 2030, and taking advantage of critical minerals found in the Ring of Fire to establish battery production in the province.