Federal government in talks on 3 battery factories, media say

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Canada is pursuing at least three electric vehicle battery factories, according to a number of media reports citing anonymous sources.

The logic On Wednesday, the website was the first to report on discussions between Canada and South Korean firm LG Energy. According to Logic, LG has exchanged term sheets with the Ontario and federal governments that set out the terms of a potential investment of $ 2.1 billion.

And the Globe and Mail On Thursday, quoted sources said the federal government was in talks with Stellantis, which the newspaper said is planning to build a plant in partnership with French company TotalEnergies.

Stellantis CEO Carlos Tavares said earlier this year that the company wanted to locate two battery factories in North America and that Canada was vying for one. He said a decision could be made by the end of the year.

The Globe also said a third round of negotiations involves Ford Motor Co. The automaker has hired millions and pledged a number of electric vehicles to manufacture at its Oakville, Ont., Assembly plant.

The Globe and Mail did not identify any of its sources “because of the sensitivity of the negotiations.”

The Logic, however, reported that Industry Minister François-Philippe Champagne said: “We are getting closer and closer to making very significant investments.”

As reported by Automotive News Canada this week, Champagne met with executives from Stellantis and General Motors in Detroit, where he presented Canada as a “battery ecosystem”.


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