The investment will take the form of a loan to Lion Electric, a Saint-Jérôme-based company that makes electric trucks and school buses. Lion Electric plans to use the funding to build a new $185-million factory in Saint-Jérôme, north of Montreal, where it will assemble battery packs for its vehicles. The project also aligns with the Legault government's desire to create a supply chain within Quebec that is able to feed the electric vehicle industry. By opening a battery assembly plant in Quebec, Lion could help stimulate more cell-makers to set up shop in the province. But other countries have the same goal in mind, he said, and the window for the province to establish itself as an important player in the emerging electric vehicle battery industry is closing quickly.

Source: CBC News March 15, 2021 14:56 UTC