Are Canada's EV Goals at Risk with Ontario Plants Slowing

Umicore’s battery plant in Loyalist Township, Ontario, crucial for Canada's EV ambitions, has faced delays due to a deteriorating EV market and decreased demand for battery materials. Initially set to create 600 jobs and produce batteries for a million vehicles annually, the project’s timeline has shifted. Other EV projects are also facing delays despite substantial public subsidies. This raises concerns about meeting Canada’s 2035 goal for ending gas vehicle sales.