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Placeline/People
State Province Ontario
Country Canada

Newsroom Ready: Companies delay investment as demand for EVs cool

Umicore, a Belgium-based company, said in July that it would delay spending on the construction of its battery component production plant in Loyalist, Ont., due to worsening EV market conditions. Two years ago, the company had announced its plan to create hundreds of jobs and produce batteries for one million electric vehicles annually starting in 2026. Jim Hegadorn, the town’s mayor, called the delay concerning for the community. (Sept. 17, 2024) 
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Source name: 
The Canadian Press
Unique identifier: CP173111645 
Legacy Identifier: r_Ont-EV-Market20240917T0900 
Type: Video 
Duration: 55s 
Dimensions: 1920px × 1080px     55.76 MB 
Usage rights: FOR ONE TIME USE ONLY. NO STORAGE FOR FUTURE USE. 
Create Date: 9/17/2024 9:00:00 AM 
Display aspect ratio: 16:9 
Tags
aerospace
cars
electric vehicles
EV
Jim Hegadorn
Loyalist
manufacturing
Ontario
production
Trudeau
vehicles