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this post was submitted on 30 Jul 2024
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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.