A major milestone that could lead to new investments, cementing Canada's position as the green supplier of choice for electric vehicles and batteries
August 23, 2022 - Toronto, Ontario
Canada's automotive future is founded on maximizing the benefits of our natural resources and adding value to global supply chains for electric vehicles and batteries. Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced historic partnerships with two leading German automakers in the form of memoranda of understanding with Volkswagen AG and Mercedes-Benz AG. These agreements will further collaboration with two innovative global players across a range of sectors, help secure Canada's position as a leading centre of excellence for the manufacturing of electric vehicles and batteries and help ensure that Canada is a destination for investments in this space.
The Volkswagen agreement focuses on deepening cooperation on sustainable battery manufacturing, cathode active material production and critical mineral supply, among others, and on setting up a Canadian office for PowerCo, Volkswagen's newly formed battery company.
The Mercedes-Benz agreement focuses on enhancing collaboration with Canadian companies along the electric vehicle and battery supply chains; supporting the development of a sustainable critical mineral supply chain in Canada that is based on environmental, social and governance principles; collaborating in research and development; and identifying potential investments in Canada.
The recent visit by Minister Champagne to Germany in May was the catalyst for these agreements. During his trip, he met with key business and industry leaders to strongly communicate Canada's automotive value proposition and reiterate our credentials as a sustainable and reliable partner.
Since January, Canada has secured historic manufacturing deals for electric vehicles, batteries and hybrids-deals that create and secure thousands of good, middle-class jobs while positioning Canada as a leader in the electric vehicle and battery manufacturing space.
Today's announcement represents another major step forward, as Canada continues the work to grow its clean transportation sector and meet global and North American demand for zero-emission vehicles.
