Swedish company Northvolt today announces a $7 billion investment to build a battery cell factory in Montérégie. This will be the largest private investment in the province’s history.
• Also read: Northvolt in Quebec: Tomorrow will be a “great day for the Quebec economy,” says Legault
• Also read: They’re already saying no to Northvolt’s $7 billion mega-factory
• Also read: Quebec could pour $1.4 billion into Northvolt’s mega-factory
The delegation of this Swedish company will make the announcement in McMasterville in the Vallée-du-Richelieu, accompanied by elected representatives of the federal and provincial governments.
The Legault government will provide Northvolt with $1.4 billion in public funds so the company can build its mega-factory in Quebec, the Journal de Montréal revealed on September 12.
On Wednesday morning, François Legault called the expected announcement a “great day for the Quebec economy” before heading to the Blue Room for question period.
Quebec’s contribution will be nearly 20% of the total project’s cost, estimated at $7 billion, and would provide $231 million to purchase land for the former Canadian Industries Limited (CIL) explosives factory near Montreal .
There is currently no known involvement of the federal government.
*Follow the press conference from 11 a.m. on the LCN.