Belgian company Umicore pauses $2.76B EV battery-materials plant construction in Ontario due to reduced EV market growth.
Belgian company Umicore has paused construction on a $2.76B EV battery-materials plant in eastern Ontario due to reduced EV market growth expectations. The company is conducting a strategic review of its battery materials and will provide an update in the first quarter of next year. Last October, the federal government committed $551.3M and the Ontario government pledged up to $424.6M for the project.
July 26, 2024
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