German chemical production company BASF is planning to set up production for EV batteries in Canada through a federal cleantech fund.
According to media reports citing a Canadian ministry official, Canada’s Net Zero Accelerator Fund (NZA), however, is still determining whether BASF’s clean-tech goals align with NZA, which aims to reach net-zero emissions in Canada by 2050. This fund has C$8 bn ($6.6 bn) to distribute among clean-tech companies.
In partnership with Japan’s Toda Kogyo Corp, BASF already produces nickel, cobalt aluminum oxide, and nickel cobalt manganese oxide in two North American locations.
Media reports noted that the Canadian industry minister indicated that the country wants to ensure that necessary policies are in place to attract the EV and battery supply chains to Canada.