Ontario Welcomes a historic $2.76B Manufacturing Investment

• We are thrilled to welcome Umicore’s historic $2.76 billion investment to build North America’s first industrial scale cathode and precursor manufacturing plant in Loyalist Township.
• This game-changing investment will allow Umicore to produce enough cathode to manufacture more than 800,000 EV batteries annually, while creating more than 600 new, good-paying jobs in Loyalist Township and more spin-off jobs across the province.
• Ontario is providing up to $424.6 million to support this investment.
• Our government has worked tirelessly to build a robust end-to-end EV supply chain right here in Ontario and Umicore’s investment is another vote of confidence in our automotive ecosystem.
• This investment builds on the momentum of the more than $26 billion in transformative auto and EV investments that Ontario has secured in just the last three years.
• We will continue to promote Ontario’s world-class automotive sector and strengthen our end-to-end EV supply chain and attract more generational, job-creating investments like Umicore’s.