Canada is in hot pursuit of at least three electric-vehicle battery plants, according to a number of media reports citing unnamed sources.
The Logic website on Wednesday was first to report Canada’s discussions with South Korea’s LG Energy. According to the Logic, LG has exchanged term sheets with both the Ontario and federal governments that lay out the conditions for a potential $2.1-billion investment.
And, the Globe and Mail Thursday cited sources as saying the federal government is in talks with Stellantis, which the newspaper said is looking to build a plant in partnership with French company TotalEnergies.
Stellantis CEO Carlos Tavares said earlier this year the company wants to locate two battery plants in North America and that Canada is in the running for one of them. He said a decision could be made by year’s end.
The Globe also said a third set of negotiations involves Ford Motor Co. That automaker has committed millions and pledged a number of EVs to be made at its assembly plant in Oakville, Ont.
The Globe and Mail did not identify any of its sources “due to the negotiations’ sensitivity.”
The Logic, however, reported that Industry Minister François-Philippe Champagne said, “we’re getting closer and closer to land some very significant investment.”
As reported by Automotive News Canada this week, Champagne met with Stellantis and General Motors executives in Detroit, where he pitched Canada as a “battery ecosystem.”