TORONTO — Volkswagen is building an electric vehicle battery plant in southwestern Ontario, the carmaker said Monday, an announcement heralded by the province’s economic development minister as an illustration of Canada’s rapid reversal of fortunes in the growing sector.
The European automaker announced that the Volkswagen Group and its battery company PowerCo will establish its first overseas “gigafactory” for battery cell manufacturing in St. Thomas, Ont., with the start of production planned for 2027.
The company said Canada offers ideal conditions, including a local supply of raw materials and wide access to clean electricity.