Quebec Secures $5 Billion Northvolt Battery Plant With Incentives

Northvolt, a Swedish battery maker, will build a $5 billion factory near Montreal.
The Canadian federal and Quebec provincial governments provided $2 billion in subsidies to attract the factory.
The plant will employ up to 3,000 people and be one of the largest battery facilities in North America.
Northvolt chose the location due to abundant hydropower and proximity to lithium mines in the region.
The project highlights escalating incentives by governments to become electric vehicle manufacturing hubs.