The government welcomed a $2.76 billion investment from Umicore Rechargeable Battery Materials Canada Inc. to build a new manufacturing plant in Loyalist Township. The facility will manufacture cathode active materials (CAM) and precursor cathode active materials (pCAM), critical components for producing electric vehicle (EV) batteries.
This investment will help create over 600 good-paying jobs in Eastern Ontario and strengthen Ontario’s end-to-end electrical vehicle supply chain.
News Releases;
English: Ontario Welcomes a Historic $2.76 Billion Manufacturing Investment
French: L’Ontario accueille favorablement un investissement historique de 2,76 milliards de dollars dans le secteur manufacturier