Northvolt announced Thursday it will establish a fully integrated lithium-ion battery gigafactory in the Canadian province of Quebec — its first factory outside Europe. The facility will host 60 GWh of annual cell manufacturing capacity with first operations due to start in 2026.
The $300 billion U.S. Inflation Reduction Act, often referred to as IRA, is a landmark climate and tax deal that includes green subsidies for businesses. For example, electric cars that contain at least 50% of their components made in North America (and so, Canada) qualify for tax credits, making them more attractive to consumers. Canada has also offered the Swedish battery maker its own support in the form of loans.