The German automaker said Thursday it would begin a site search in Canada for its first North American battery factory, signing an additional agreement with the federal government about a new PowerCo SE cell factory as Innovation Minister François-Phillipe Champagne visits Germany. (The Logic)
Talking point: The automaker said Canada is “being considered on the shortlist of sites…in addition to other options,” with “intensive negotiations” to come. VW CEO Oliver Blume said in a press release that “Canada is a logical option for the construction of a gigafactory in the North American region.” It would mark the second cell factory from a multinational automaker after LG and Stellantis announced a joint venture in March, and follows an August memorandum of understanding between the federal government and VW to “investigate” battery opportunities and critical minerals. The company also agreed Thursday to explore a deal to buy battery materials from Umicore’s new Ontario plant.
