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this post was submitted on 30 Jul 2024
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LOL!!! I don't know how many BILLIONS were subsidized to NorthVolt for their facility in Québec only for the company to see sales decrease and the value of their materials drop because people aren't buying overpriced EVs. I mean people can't afford their fucking rent and food, let alone a god damn car.
Now the companies are rolling back in their development of new battery manufacturing plants after they've been given billions. Billions that were needed for funding mass public transit projects in major cities, build social housing and financing food banks which have seen an explosion in demand and can't keep up.
But NOOOOO. Let's give these billions to private companies in the hopes that maybe, one day, 10 years from now, we'll START to see that money slowly coming back.
Were billions given upfront for this project? Most of the battery/EV projects I saw were mainly tax breaks.
The Northvolt project in Québec, yes.
Regardless, this project in Ontario faces the same challenges. EVs aren't selling. There are too many battery manufacturers worldwide. They produced so many batteries that the market is flooded to a point that we have enough to provide for the next 10 years.
Source (sorry, it's in French but it's worth the read)
So these companies are revisiting their projects to build more manufactures.