Umicore halts construction of $2.7B EV battery materials plant in Ontario

Umicore Groundbreaking — The federal and provincial governments pledged just short of $1 billion in funding to the Kingston-area plant. The future of the government funding was not immediately clear. (UMICORE\/X)

July 26, 2024 12:18 PM

Umicore has slammed the brakes on its $2.76-billion battery materials plant in Eastern Ontario as it continues an ongoing review of its business amid “substantially” scaled-back expectations for the electric-vehicle market.

Featured Stories

What automakers are saying about vehicle prices with tariffs in effect

Young technician grateful for his mentor

Volvo CEO Hakan Samuelsson promises new model, increased autonomy for U.S. business

Will Carvana be ready for the next market shift with tariffs? Confidence is there

Latest News

Jaguar Land Rover is pausing exports to key U.S. market over Trump’s tariffs

Tesla’s software engineering head is said to depart EV maker

Volvo CEO Hakan Samuelsson promises new model, increased autonomy for U.S. business

Live updates on tariffs: Ford, Stellantis offer employee discounts; China retaliates; Mexico seeks solution

Staying current is easy with newsletters delivered straight to your inbox.

See More in Manufacturing

Live updates on tariffs: Ford, Stellantis offer employee discounts; China retaliates; Mexico seeks solution

What automakers are saying about vehicle prices with tariffs in effect

Daily 5 report for April 4: Does Mexico know something that Canada doesn’t on tariff talks?

Top 5 stories of the week: Auto tariffs go into effect; top 150 dealership groups

Staying current is easy with newsletters delivered straight to your inbox.