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Canada is Backing a New Battery Plant With $1 Billion

November 16, 2023
x min read

The Canadian government is making a bold new bet on lithium batteries.

What’s happening:

  • The Canadian government has announced their plans to help fund the country's largest battery production facility in Maple Ridge, British Columbia
  • The new production plant will cost approximately $1B CAD to complete construction and fully build out
  • E-One Moli will own and operate the facility and focus on scaling up production of lithium-ion battery cells

By the numbers:

  • E-One Moli has publicly stated the new facility will be capable of producing 135M batteries each year
  • The British Columbia government will contribute $80M CAD and the other $970M CAD will come from a mixture of the Canadian federal government, E-One Moli and private funding
  • The new facility is expected to create more than 450 new jobs in Maple Ridge

Going deeper:

  • The new plant will produce batteries for uses in medical devices, power tools, gardening equipment and household items such as vacuums

The intrigue:

  • E-One Moli is widely seen as an innovator in battery technology and was the first ever company to commercialize a lithium metal battery

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