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The province took possession of the 171-hectare site after a Quebec judge declared the North American subsidiary of the Swedish EV battery producer insolvent in September. The land, which is 25 kilometres east of Montreal, boasts ample road access, a completed logistics area and authorization to connect to local drinking and wastewater networks. (The Logic)
Talking point: Quebec invested $510 million in Northvolt to try to help build a $7-billion gigafactory capable of producing “the cleanest batteries in the world.” This included a loan of $240 million the company used to buy the land, with the land itself as collateral. The investment in the battery maker was part of a plan to jump-start Quebec’s battery production industry, which has since sputtered amid a pivot away from EVs in North America.
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