Grants and Contributions:
Title:
515483
Agreement Number:
515483
Agreement Value:
$13,153,475,083.00
Agreement Date:
May 5, 2023 - Dec 31, 2032
Description:
Secure greater access to battery cell and module production in Canada to remain globally competitive in the production of electric vehicle (EV) batteries.
Organization:
Innovation, Science and Economic Development Canada
Expected Results:
Special Contribution Agreements with EV battery manufacturers will contribute to the Department's mission to: support the industrial transformation of key industrial sectors including automotive, and strengthen their domestic supply chains; help Canada transition toward a competitive, low-carbon economy and achieve its emissions reduction targets; grow Canada's innovation ecosystems; and contribute to Canada's talent pipeline by generating high-value jobs.
Location:
St. Thomas, Ontario, CA N5P1E2
Reference Number:
033-2023-2024-Q1-515483
Agreement Type:
Contribution
Report Type:
Grants and Contributions
Recipient Business Number:
719579948
Recipient Type:
For-profit organization
Additional Information:
2023/24 to 2032/33
Recipient's Operating Name:
PowerCo
Recipient's Legal Name:
PowerCo Canada Inc.
Federal Riding Name:
Elgin--Middlesex--London
Federal Riding Number:
35025
Program:
Electric Vehicle Battery Manufacturers
Program Purpose:
The purpose of this special purpose allotment is to secure greater access to battery cell and module production in Canada to remain globally competitive in the production of electric vehicle (EV) batteries.
NAICS Code:
335910