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The Canadian government is making a bold new bet on lithium batteries.
What’s happening:
- The Canadian government has announced their plans to help fund the country's largest battery production facility in Maple Ridge, British Columbia
- The new production plant will cost approximately $1B CAD to complete construction and fully build out
- E-One Moli will own and operate the facility and focus on scaling up production of lithium-ion battery cells
By the numbers:
- E-One Moli has publicly stated the new facility will be capable of producing 135M batteries each year
- The British Columbia government will contribute $80M CAD and the other $970M CAD will come from a mixture of the Canadian federal government, E-One Moli and private funding
- The new facility is expected to create more than 450 new jobs in Maple Ridge
Going deeper:
- The new plant will produce batteries for uses in medical devices, power tools, gardening equipment and household items such as vacuums
The intrigue:
- E-One Moli is widely seen as an innovator in battery technology and was the first ever company to commercialize a lithium metal battery
