The size of the investments promised in the battery industry could double again in the next few years to reach $30 billion, according to the head of Investissement Québec.
The projects announced in the battery sector represent total investments of nearly $11 billion. To this can be added nearly $4 billion in investments to be announced “shortly.”
“Another $15 billion is being discussed and will be announced over the next few years,” says Guy LeBlanc, President and CEO of Investissement Québec, in an interview prior to a speech he is due to give to the business community in Bécancour on Tuesday. “Essentially, these are phase two and phase three projects to increase the capacity of the plants already announced.”
LeBlanc considers that “the essential part” of Quebec’s battery ecosystem is now complete.
However, the government is planning to add “small missing pieces that we are working on.”
As an example, he spoke about the production of synthetic graphite, which would be added to the graphite production of Nouveau Monde Graphite.
With Quebec’s limited energy capacity, LeBlanc said the government will no longer be courting large cell manufacturers.
“Given the energy limitations at the moment, going out to find another cell manufacturer, for example, would be problematic,” he said.
The battery industry can do without the project by German giant BASF, which was announced in the spring of 2022 and was due to be completed in Bécancour in 2025, said LeBlanc. The project is in limbo while the company looks for partners in the automotive sector.
Even if it doesn’t materialize, BASF’s announcement has done useful work by putting the spotlight on Quebec, argued LeBlanc.
“It was really well received by the international community and by certain players who weren’t