The echo of Northvolt’s problems resonates in Quebec and Ottawa | The battery industry

Prime Minister François Legault did not respond to questions about whether he still believed in the Northvolt project in Quebec on Wednesday, while in Ottawa, federal Industry Minister François-Philippe Champagne continued to display cautious optimism in the matter.

Even if the Swedish company has maintained in recent weeks that its factory project in Montérégie would come to fruition, several reports suggest that it is experiencing serious financial difficulties.

Northvolt is even considering filing for bankruptcy protection, according to some media, including the Reuters news agency.

In Quebec, a journalist questioned Prime Minister Legault on the subject in the corridors of parliament on Wednesday morning.

She asked the Prime Minister if he had suggested that he no longer believed in the project de Northvolt.

I just said I was waiting for informationindicated François Legault.

When asked by The Canadian Press if he had received the information in question, the Prime Minister curtly replied non.

Later, during question period, the leader of the official opposition, Liberal Marc Tanguay, noted that his opponent was dodging questions on the Northvolt file.

Not a word about Northvolt; 710 million of the money of Quebecers who pay taxes and who send it to Quebec with the sweat of their brow; 710 million, not a word about Northvolt.

Caution and confidence

In Ottawa, the federal Minister of Industry, François-Philippe Champagne, repeated the words prudence et trust several times during a press scrum.

It is necessary to demonstrate caution, as I said regarding the information circulating, because there is a lot of itindicated Minister Champagne.

But also confidence, because in the long term, I think it is in the economic, strategic interest, not only of Canada, but also of our European partners, to have a North American battery factory because the largest automotive market is here in North Americahe repeated, thus suggesting that he assumes that Northvolt’s Quebec activities will be spared, despite the company’s financial difficulties.

What happens in Europe is one thing, what happens in North America is another thingadded the minister, echoing recent comments from the CEO by Northvolt North America, Paolo Cerruti.

Three weeks ago, during a speech at the International Conference on Advanced Lithium Batteries for Organized Automotive Applications, he admitted that the Swedish company was going through a difficult period et crucial.

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He had repeated that Northvolt is in Quebec to staybut indicated at the same time that we did not know how the restructuring of the Swedish company would affect the factory’s projects in Montérégie and its schedule.

In September, Northvolt announced the dismissal of 1,600 employees in Sweden, or a fifth of its workforce, illustrating the financial difficulties facing the company.

Recently, the company also sold its site in Borlänge, Sweden, where it was to build a plant for materials for cathode, the positive terminal of a battery.