Canada’s battery supply chain could benefit jobs and economy if Canada takes action, reveals new model, The Canadian Business Journal

LONDON, ON and VICTORIA, BC, Sept. 14, 2022 (GLOBE NEWSWIRE) — Canada’s EV battery supply chain cuts down on Canadian EV battery supply chain with new US electric vehicle tax credit requiring EVs and their batteries to be manufactured in North America is in the spotlight.

That spotlight is rightful. If Canada does well, his chain of domestic EV battery supplies could support up to 250,000 jobs by 2030 and add $48 billion annually to the Canadian economy.

This is according to a new report from Clean Energy Canada and the Trillium Network for Advanced Manufacturing: Canada’s new economic engineexplores how Canada can build a successful EV battery supply chain to become a battery powerhouse in North America.

From $5 billion invested by Stellantis and LG Energy Solution in a battery plant in Windsor to $500 million invested by General Motors and Posco to bring production of battery materials to Becancourt, Quebec, in recent months. We are seeing a new battery investment stream between

But despite these promising investments, the success of Canada’s EV battery supply chain and the hundreds of thousands of future jobs it can support still depend heavily on swift government action.

In a scenario where no further government action is taken, Canada’s battery supply chain would create just 60,000 jobs and contribute just $12 billion to GDP, about a quarter of its potential for employment and GDP. only fulfilled.

The report therefore identifies six ways Canada should focus its efforts to realize its battery manufacturing potential. Canada can do it all, but a more effective strategy is to double down on a few key steps: EV assembly, battery cell manufacturing, and clean battery materials production.

In short, we have a once-in-a-generation opportunity to build a battery supply chain that will be the economic engine of tomorrow’s economy.

Here’s what Canada must do:

1. Strategize: Canada needs a national battery strategy for the public that will bring together existing efforts, connect the dots across the battery supply chain, and guide industry development.
2. Build your workforce: Canada is home to one of the world’s largest talent pools, but faces labor shortages and challenges to get the right people in the right places. Canada needs to develop new strategies to engage and mobilize large numbers of skilled workers.
3. Accelerate project development: Canada faces intense competition to secure investment in additional battery supply chains. Canada must create a predictable and efficient review process for projects across the supply chain, with a focus on coordinating project land and infrastructure needs.
4. Expansion of the North American market: Canada must support and expand policies to increase domestic EV demand and penetration.
5. Promoting Canadian Clean Battery Brands: To attract investment in the battery supply chain and increase export opportunities, Canada has many advantages, including low-carbon critical minerals, proximity to the United States, leadership in cutting-edge battery research and recycling, and abundant clean power. should continue to promote the benefits of its clean battery.
6. Homemade clean battery reader scale-up: Canada is home to many innovative battery technology companies. The next step is to leverage existing investments from multinational battery cell manufacturers to support domestic companies as well.

Quote

“Canada has all the right ingredients to become a battery powerhouse, from essential mineral resources to leading cleantech companies. But it is imperative that Canada act quickly and decisively.

—Evan PivnickClean Energy Program Manager, Clean Energy Canada

“The opportunity to build a fully integrated EV battery supply chain lies before us. Work has begun, but there is still much work to be done. It could bring significant economic and social benefits, but would require a level of government support and political will not seen since the 1960s.”

—Brendan SweeneyManaging Director, Trillium Network for Advanced Manufacturing

important facts

• By 2030, Canada’s EV battery supply chain could support approximately 250,000 direct and indirect jobs, adding $48.2 billion to its economy. Taking into account the jobs induced (e.g., restaurant workers popular with supply chain workers), a total of about 323,000 jobs could be created across Canada, adding $59 billion to the Canadian economy. I have.
• Between 2020 and the end of the analysis underlying this report in June 2022, Canada will contribute at least $1 billion related to EV battery mineral mining and materials manufacturing, as well as EV battery cell and module manufacturing. $5.2 billion related to manufacturing, $6.6 billion related to EV assembly, and $1 billion related to EV battery parts and recycling.
• From June 2022 onwards, in Canada, Umicore $1.5 billion plan Constructed a cathode active battery materials facility in Kingston, Ontario, Recent deals We work with Volkswagen and Mercedes-Benz to secure Canadian EV battery raw materials and collaborate in other areas such as battery manufacturing.
• Canada ranks in the world top 5 countries When it comes to battery supply chain potential, it is largely due to access to key metals and minerals.
• The global market for batteries is at least worth $360 billion By 2030.The International Energy Agency estimates that by 2040 demand for critical minerals at least 30 times Respond to increased demand for EVs and storage batteries.

means

Report | Canada’s new economic engine

Editorial | Canada’s new oil is battery powered, but Trudeau must act now

Technical Report | Developing the Canadian Electric Vehicle Battery Supply Chain: Quantifying Economic Impacts and Opportunities

Blueprint | Canada Battery Task Force Battery Blueprint for Canada

Webinars | Sign up for Clean Energy Canada’s upcoming webinar on how Canada can become a global battery power plant

Release | Industry group responds to Stellantis and other electric vehicle battery supply chain announcements.

contact

Kelly McNamara
communication specialist
778-951-8060

CBJ Newsmaker