A new player is entering the Quebec supply chain for electric vehicle batteries.
Volta Energy Solutions, a subsidiary of South Korea’s Solus Advanced Materials, will produce copper foil for batteries in Granby, Que., southeast of Montreal.
The Quebec government is giving the company a $150-million loan, part of which is forgivable, for the $750-million project that is expected to create 260 jobs.
The plant is to produce 25,000 tons of copper sheets per year starting 2026.
Quebec Premier François Legault made the announcement today in Granby, saying the project confirms that the province is attracting global leaders in the battery and electric transportation industry.
Last month, Ford Motor Company announced a $1.2-billion manufacturing plant in Quebec for components of electric car batteries.