• 2 days Investors Are Patient With Unprofitable Giants
  • 4 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 6 days 5 Stocks To Keep A Close Eye On This Year
  • 8 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 8 days Central America Is Ready For The Bitcoin Hustle
  • 10 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 11 days Top Performing Stocks As Inflation Fears Grow
  • 12 days US Airline Stocks Take A Beating On New EU Restrictions
  • 13 days This IPO Could Open Sustainable Fashion Floodgates
  • 14 days Crypto Crime Nets Another $2B Fraudster
  • 16 days This Week’s Hottest Meme Stocks
  • 18 days Why World Markets Should Be Watching Germany Closely
  • 20 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 22 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 23 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 24 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 25 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 26 days China’s Tycoons Are Getting A Serious Reality Check
  • 28 days U.S. Cannabis Space Heats Up With Telling Tilray Acquisition
  • 29 days Consumer Price Index Hits 13-Year-High
Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Tech
  3. Tech News

Canada May Become Leader In Booming Battery Market

Battery

“Canada has great potential to become a leader in the global Li-ion battery market,” a new analysis by Roskill states.

The research firm published the insight following the announcement by Lion Electric, a manufacturer of all-electric trucks and buses, of the construction of a C$185-million battery manufacturing plant and innovation center in Quebec.

The project is expected to receive a joint C$100-million investment from the federal and provincial governments and it is planned to begin operations in early 2023. 

According to Lion, the factory will produce battery packs and modules made from lithium-ion cells, which should translate into a considerable reduction in the cost of its vehicle manufacturing, with a particular impact on the development of heavy-duty electric transportation.

Yearly production capacity is forecast to be 5 gigawatt-hours in battery storage, which means that the company will be able to electrify approximately 14,000 medium and heavy-duty vehicles annually. 

“Building an EV battery plant in Quebec would be a crucial step in the advancement of the Canadian Li-ion battery ecosystem, stimulating the cell production in the country and further localising the supply chain,” Roskill’s report reads. “Across the Canadian Li-ion battery supply chain, cell and module production has been relatively weak. Based on the announced production plans by March 2021, Roskill’s analysis shows that Canada will account for only 0.03% of global Li-ion battery cell capacity by 2030.” Related: Nearly 42% Of All Amazon Reviews Are Fake

In the market researcher’s view, if projects like Lion Electric’s reproduce across the country, Canada could start gaining leadership in the EV revolution, particularly given its large mineral endowments and production capacity for key battery raw materials, including lithium, nickel, cobalt, manganese, copper, and graphite.

“As of today, however, Canada mainly exports these commodities in the form of mineral concentrates to Asia, with very little value added to produce Li-ion battery materials (precursor, cathode, and anode) retained in Canada,” the document states.

Were Canada to start working towards processing these raw materials, it would be in a privileged position to build a more sustainably powered EV battery supply chain, given the high proportion of clean power delivered to the country’s grid. 

At present, the Great White North is the world’s third-largest producer of hydroelectricity, with 67% electricity coming from renewable sources and 82% from non-greenhouse gas emissions sources.

“With accelerating global demand for Li-ion batteries, Roskill believes that Canada has a unique opportunity to develop into an important Li-ion battery material and even cell hub in the North American EV supply chain, though there remains significant investment required to achieve this status,” the review reads.

By Mining.com

Back to homepage

Leave a comment

Leave a comment