Volkswagen subsidiary PowerCo will establish an electric vehicle (EV) battery manufacturing facility in St. Thomas, Ontario, Canada.
Following this announcement, the Honourable François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, and the Honourable Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, issued the following joint statement:
“Earlier today, Volkswagen announced that it has selected St. Thomas, Ontario, Canada, as the location to build the company’s first overseas battery cell plant.
Why we cover this: Though it’s not specifically directed at the aftermarket, the historic nature of major EV investment warrants inclusion as the expected economic knock-on effects will certainly be significant both for the immediate vicinity of the plant, as well as the larger Canadian and North American supply chain.
“Today’s news is a major vote of confidence in Canada and Ontario, and in our shared work to position the country and the province as a global leader on the electric vehicle supply chain.
“This historic investment is a testament to Canada’s strong and growing battery ecosystem and Ontario’s competitive business environment.
“With a highly skilled workforce, clean energy, an abundance of critical minerals, access to markets, and a flourishing automotive and battery sector, we are an attractive investment destination with everything companies need to grow.
“In addition, Canada and Ontario offer stability and predictability to their business partners.
“This investment is another significant step forward as we build a clean transportation sector to meet global and North American demand for zero-emission vehicles.
“We will continue to build on this success by growing our EV ecosystem and supporting clean technology to create well-paying jobs and spur economic growth and prosperity for future generations.”