Taiwan's Molicel to build battery gigafactory in British Columbia
Taiwan Cement Corporation says its lithium-ion battery manufacturing subsidiary, E-One Moli Energy (Molicel), plans to build Canada’s largest high-performance battery gigafactory in Maple Ridge, British Columbia.
Total project investment is estimated at NTD 25.5 billion ($800m), according to Taiwan Cement Corporation. The Canadian government will partially finance the facility, Kallanish learns.
Canada’s Prime Minister Justin Trudeau announced at a press conference held at the plant site that the federal government plans to provide up to CAD 204.5m ($149.30m) to the project and the B.C. government up to CAD 80 million.
Construction is planned to start in June 2024, with production slated for 2028. The plant will produce 135 million cylindrical ternary lithium batteries every year, which is equivalent to 2.6 gigawatt-hours of capacity, the company says.
The plant will be the first 100% green electricity powered, low-carbon, high-power battery cell plant in the world, Molicel claims.
“The world is looking to Canada. When we support projects like Molicel’s new facility in Maple Ridge, we bolster Canada’s role as a global clean-tech leader, create good jobs and help keep our air clean,” comments Trudeau.
The public backing, however, was criticised by the Canadian Taxpayers Federation, saying the multimillion-dollar handout to the battery firm will cost taxpayers $632,000 per job.
“Instead of raising taxes on ordinary Canadians and handing out corporate welfare, governments should be cutting red tape and taxes to grow the economy,” says federation director Franco Terrazzano.
In the past month, Canada has announced financial support to companies including Volkswagen, Stellantis, Ford, Northvolt and Umicore to attract investments in the EV battery supply chain.
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