The northern neighbor of the United States is of interest to many companies that want to start mass production of electric vehicles and traction batteries for them on the continent. Firstly, there are enough minerals in Canada that are necessary for the production of lithium batteries. Second, the auto industry is well developed here. Third, the country is in close proximity to major markets. Samsung SDI is expected to construct its second traction battery facility in Canada.
Corresponding Business Korea Referring to Canadian media, Ontario Minister for Economic Development, Labor and Trade Anthony Fedeli recently met with officials from Samsung SDI to discuss building a plant in the region. According to the official, the talks have been successful and the South Korean side will make official statements to that effect shortly.
Earlier this year, Samsung SDI teamed up with Stellantis to set up a traction battery production joint venture in Indiana, USA. It is widely believed that in the case of the Canadian Samsung SDI project, Stellantis, which has two plants for the production of internal combustion engines, could be the winner. In the coming years they will have to be converted for the production of hybrid cars and electric vehicles. Increasingly, there are suggestions that Tesla will locate its new electric vehicle assembly plant in Canada, so with the advent of targeted subsidies for buying locally assembled cars in the United States, infrastructure development in the neighboring country becomes inevitable.