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Umicore chooses Canada for first-of-its-kind EV battery materials plant
Belgium-based Umicore has announced a $1.5 billion investment in an electric vehicle (EV) battery facility in Loyalist, Ontario. Located just west of Kingston, the plant will produce the vital EV battery materials critical to Canada’s increasingly significant role in the EV revolution. It will combine cathode active materials and precursor material manufacturing on a large industrial scale – a first for North America, and a key link in the EV supply chain.
Once the plant is up and running by 2025, Umicore’s investment is expected to supply materials for up to one million electric vehicles a year and will be an important part of a growing Canadian ecosystem. For a sense of scale of the expected production, in all of 2021, there were a total of 1.6 million new motor vehicles registered across Canada.
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