The Quebec economy minister said he has about 107 project proposals, worth about $34 billion, on his desk. He aims to secure $10 billion to $20 billion worth of investments for the province, including bringing a battery-cell maker, and the government would be willing to offer 25 per cent in subsidies. (Le Journal de Montréal)
Talking point: The potential spending comes amid a subsidy war in the industry, fuelled by the U.S. Inflation Reduction Act’s rich incentives. Fitzgibbon told Le Journal de Montréal that he expects subsidy costs to fall over time as the IRA’s programs run their course. Although it’s risky to fund emerging technologies, Fitzgibbon said Quebec’s industry can evolve in concert with battery innovations and won’t be locked in by the current manufacturing investments in Bécancour. He lauded the province’s focus on burgeoning fields like battery traceability.