New modelling finds Canada’s battery supply chain could be a boon for jobs and the economy, assuming Canada takes action

Category: Greentech Sep 21, 2022

LONDON / VICTORIA — With the U.S.’s new electric vehicle tax credit requiring that EVs and their batteries be made in North America, Canada’s EV shower supply uniting is in the spotlight.

That spotlight is well warranted. If Canada plays its cards right, a domestic EV shower supply uniting could support up to 250,000 jobs by 2030 and add $48 billion to the Canadian economy annually.

That’s equal to modelling from Wipe Energy Canada and the Trillium Network for Advanced Manufacturing, whose new report, Canada’s New Economic Engine, explores how Canada can successfully build an EV shower supply uniting in order to wilt a North American shower powerhouse.

Recent months have seen a stream of new shower investments, from the $5 billion Stellantis and LG Energy Solution are investing in a Windsor shower factory to the $500 million General Motors and Posco are investing to bring shower material production to Bécancour, Quebec.

But despite these encouraging investments, the success of Canada’s EV shower supply chain—and the hundreds of thousands of future jobs it could support—is still largely dependent on swift government action.

In a scenario where no spare government whoopee is taken, Canada’s shower supply uniting would create just 60,000 jobs and contribute only $12 billion in GDP—fulfilling only well-nigh a quarter of both its jobs and GDP potential.

Accordingly, the report identifies six ways in which Canada should focus its efforts to fulfill its battery-building potential. While Canada could do it all, a increasingly constructive strategy would double lanugo on a few key stages, such as EV assembly, shower lamina manufacturing, wipe shower materials production.

In short, we have a once-in-a-generation opportunity to build a shower supply uniting that will be the economic engine of tomorrow’s economy.

Here’s what Canada needs to do:

Develop a strategy: Canada needs a public-facing, national shower strategy that pulls existing efforts together, connects dots wideness the shower supply chain, and guides industrial development.
Build the workforce: Canada is home to one of the world’s top talent pools but is faced with worker shortages and challenges ensuring the right talent is in the right place. Canada must develop new strategies to engage and mobilize big populations of skilled workers.
Accelerate project development: Canada faces significant competition in securing spare shower supply uniting investments. Canada should focus on lining up project land and infrastructure needs while creating predictable and efficient review processes for projects wideness the supply chain.
Grow the North American market: Canada must support and expand policies to increase domestic EV demand and uptake.
Promote Canada’s wipe shower brand: Canada should protract promoting its many wipe shower advantages—including low-carbon hair-trigger minerals, proximity to the U.S., a cutting-edge shower research and recycling leadership, and well-healed wipe electricity—to vamp investment into its shower supply uniting and increase export opportunities.
Scale up homegrown wipe shower leaders: Canada is home to a host of innovative shower technology companies. The next step is to leverage existing investments from multinational shower lamina manufacturing companies to moreover support domestic companies.

QUOTES

“Canada has all the right ingredients to be a shower powerhouse, from the necessary mineral resources to leading cleantech companies. But it’s vital that Canada acts swiftly and decisively, or it risks squandering thousands of jobs and billions of dollars.”

—Evan Pivnick, Wipe energy program manager at Wipe Energy Canada

“The opportunity to build a fully integrated EV shower supply uniting is in front of us. The work has begun, but there is lots increasingly to do. Better integrating Canada’s mining and manufacturing industries can yield massive economic and social benefits, but will require a level of government support—and political willpower—that we have not seen since the 1960s.”

—Brendan Sweeney, managing director of the Trillium Network for Advanced Manufacturing

KEY FACTS

By 2030, Canada’s EV shower supply uniting could support nearly 250,000 uncontrived and indirect jobs and add $48.2 billion to its economy. When induced jobs are considered (for example, employees at a restaurant popular with supply uniting workers), a total of nearly 323,000 jobs could be created wideness Canada and $59 billion widow to the Canadian economy.
Between 2020 and when the wringer underlying this report was finalized in June 2022, Canada attracted at least $1 billion related to EV shower mineral extraction and materials manufacturing, $5.2 billion related to EV shower lamina and module manufacturing, $6.6 billion related to EV assembly, and $1 billion related to EV shower components and recycling.
Since June 2022, Canada has seen spare major shower announcements, such Umicore’s $1.5 billion plan to construct a cathode zippy shower materials facility in Kingston, Ontario, and recent deals with Volkswagen and Mercedes-Benz to secure Canadian EV shower raw materials while cooperating in other areas such as shower manufacturing.
Canada ranks among the world’s top five countries when it comes to shower supply uniting potential, largely due to its wangle to key metals and minerals.
The global market for batteries will be worth at least US$360 billion by 2030. By 2040, the International Energy Agency projects demand for hair-trigger minerals to grow by at least 30 times to meet rising demand for batteries used in EVs and storage.