Shovels hit the ground in St. Thomas, Ont., once again on Thursday, as dignitaries broke ground on the latest project to charge up the regional and Ontario economies.
“I truly believe in the EV sector,” said Premier Doug Ford. “That’s the way we’re going to be going. That’s the way the world’s going. And we’re going to make sure that we’re leaders around the world when it comes to battery manufacturing, electric vehicles.”
Ford was on hand as Norwegian manufacturer Vianode announced a $3.2 billion investment into a synthetic graphite plant at Yarmouth Yards Industrial Park.
Synthetic graphite is the biggest component by weight in electric vehicle batteries. It is also used in nuclear reactors and defence systems.
The announcement comes on the heels of Volkswagen’s groundbreaking of its $7 billion PowerCo gigafactory, which will produce batteries for EVs.
Vianode CEO Burkhard Straube would not comment on any potential deals between the two companies, but he made note of the “stable political system” attractive to foreign investors.
“I would assume that PowerCo and Vianode have the same reasons to come. And that’s a very supportive environment, as we discussed today. Canada itself has a stable political system and situation, so that’s very important for companies investing a lot of money,” Straube said.
The investment will create 300 jobs in its initial phase, with 1,000 jobs at full capacity.
St. Thomas Mayor Joe Preston says it will make a “generational change” for employment.
“So many grandparents have come up to me and said, ‘Mayor, you know what’s happened, you’ve made it where our kids can stay home, where our kids can work in a community where they grew up,’” said Preston.
The Vianode plant is not going up without some public money. The province has pledged a loan of $670 million, subject to conditions.
The facility is being built in phases and will ultimately reach 150,000 tons of annual capacity — enough synthetic graphite to supply roughly two million EVs each year.
