South Korean firm opening copper foil plant in Quebec for use in electric vehicles
A new player has entered Quebec's electric vehicle battery sector, with a South Korean firm announcing it will open a copper foil factory in the province by 2026.
Volta Energy Solutions, a subsidiary of South Korea's Solus Advanced Materials, will produce copper foil for car batteries destined for a growing North American market. The company will retrofit a facility in Granby, Que., southeast of Montreal, for the copper plant, which will provide Quebec with another piece of the global EV battery supply chain.
Volta Energy's plant, the first of its kind in Canada, is to initially produce 25,000 tons of copper foil per year starting in 2026. The company intends to increase capacity to allow for 63,000 tons when an expansion to the plant is ready to open in 2027, enough for about 2.5 million electric vehicle batteries. Construction on the expansion will begin next year.
The Quebec government is giving the company a $150-million loan -- $26 million of which is forgivable -- for the $750-million project that is expected to create 260 jobs. Ottawa, meanwhile, won't invest a matching amount but will offer Volta Energy about $70 million through green investment tax credits and other programs.
Volta Energy Solutions has two other copper foil plants, in Hungary and Luxembourg.
Quebec Premier Francois Legault attended the announcement Tuesday in Granby and said the project confirms the province is attracting global leaders in the battery and electric transportation industry.
"It will permit Quebec to have the first factory for EV battery copper foil in Canada, so we will be a leader," Legault said. "This factory will export all over North America."
Last month, Ford Motor Company announced a $1.2-billion manufacturing plant in Quebec for cathode active materials, which determine the capacity and power of EV batteries.
- This report by The Canadian Press was first published on Sept. 5, 2023
CTVNews.ca Top Stories
![](https://www.ctvnews.ca/polopoly_fs/1.7029443.1725744633!/httpImage/image.png_gen/derivatives/landscape_800/image.png)
Police release video of Toronto plaza shooting that killed university student
A university student from Brampton was killed when two shooters fired indiscriminately into a crowded plaza in Toronto last month in what police say was a 'cowardly act.'
BREAKING Manhunt underway for suspect after several people shot in Kentucky near Interstate 75, officials say
Several people have been shot near Interstate 75 in Laurel County, Kentucky, according to the Laurel County Sheriff’s office.
The iPhone is getting a 'glow' up. What to expect from Apple's Monday event
Apple excited fans with its vision for its 'Apple Intelligence' artificial intelligence system earlier this year. Now, it's time for the company to prove it really works.
No more porta-potties at B.C. construction sites starting Oct. 1
What some B.C. construction workers describe as the worst aspect of their jobs will be coming to an end next month, the province announced.
'Hopeless and helpless': Regina mother seeks help to treat rare spinal disease
Mary Grace Rico is seeking help in getting treatment for a rare spinal condition.
'Extremely vigorous' wildfire activity in central B.C. prompts crews to back off for safety
The wildfire fight in central B.C. intensified Friday, according to officials.
Trump campaigns in Wisconsin just days ahead of debate with Harris
With just days to go before his first — and likely only — debate against U.S. Vice-President Kamala Harris, former U.S. president Donald Trump leaned into his familiar grievances about everything from his indictments to the border as he campaigned in one of the most deeply Republican swaths of battleground Wisconsin.
They were due to leave for their dream cruise in May. Three months on they’re still stuck at the departure port
It was the years-long cruise that was supposed to set sail, but saw its departure postponed… postponed… and postponed again.