“We’re well advanced in creating the battery ecosystem in Canada, from the mine to the recycling plant,” says Innovation Minister Francois-Philippe Champagne. It’s an industry which has the potential to grow as big as the aerospace industry for the country.
Governments in larger consumer markets are offering billions in incentives and erecting regulatory barriers to encourage firms to innovate and manufacture to locate within their borders. In January, the European Commission approved up to €2.9 billion ($4.5 billion) for projects across “the entire battery value chain.” The Biden administration’s original jobs plan included US$174 billion to “win the EV market.” The U.S. Congress is considering a bill that would restrict green-car-buying incentives to U.S.-produced batteries and U.S. union-made models. Meanwhile, growing auto markets are also seeking to join the supply chain—India reportedly plans to offer US$4.6 billion for advanced battery manufacturing.
I’m sharing a personal copy of this article from
The Logic with you. If you like it, please consider subscribing.
