Lion Electric Getting $100 M from Canada, Quebec for an EV Battery Plant
We saw a big announcement in the field of electric transportation in Canada today, as the federal and Quebec’s provincial governments announced that Quebec-based Lion Electric, based in Saint-Jérôme in the Laurentians north of Montreal, is getting a $100 million loan to build a battery plant for electric vehicles.
Prime Minister Justin Trudeau and Quebec Premier François Legault made the announcement today at the Montreal Convention Centre.
Justin Trudeau said it is a priority for his government to support the manufacturing sector and projects that will accelerate the electrification of the country's transportation systems.
Quebec and Ottawa will each provide $50 million, while Lion Electric will invest $85 million of its own in the project for a battery-pack assembly plant in Saint-Jérôme, north of Montreal.
It’s estimated 135 jobs will be permanently created once the plant is completed in 2023.
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