CBC- Company halts construction of $2.7B battery project in eastern Ontario
Umicore Rechargeable Battery Materials Inc. said Friday that its project in Loyalist Township is impacted by the “significant worsening of the EV market context and the impacts this has on the entire supply chain.”
The project carried a total price tag of up to $2.76 billion back in 2023. According to a news release at the time from Innovation, Science and Economic Development Canada, the federal government was slated to invest up to $551.3 million.
hopefully hearing the same from the other high profile battery factories in Ontario that Justin and Doug fawned over!
Apparently it’s easier to build a battery plant than chargers.
You need electricity to power chargers. Generating electricity will soon be verboten.
It’s a waste to build either. Except when you use other people’s money for it.
Good news.
We can kiss the “investment” goodbye. First in, last out. Money already spent, of course. And the budget has tripled…and their tech is outmoded.
They took the taxpayers’ money and ran.
Money from the unborn was gifted to rent seekers to establish a business where no competitive advantage exists for a coerced market that is mandated, meanwhile when those products coming from a jurisdiction where there is competitive advantage and available at a fraction of the cost of domestic subsidized production, heavy duties and or tariffs will be imposed by those mandating the technology. You will own (if you want to drive a car) EVs and they will be as expensive as we can make them. Sound about right?
Of course the Liberals will now be inclined to pump more money into it.
Hundreds of billions, perhaps a few trillion have been wasted on this EV insanity thus far, with no end in sight. Imagine what could’ve been done with all that money instead. The hospitals or schools that could’ve been built, airports remodeled, perhaps even a cure for cancer found. Ideally any public dollars shouldn’t have been spent in the first place, so that we the taxpayer could have instead spent the money on things like – gee, I don’t know – maybe food? housing? clothes? All these car companies are taking major hits too, which, of course will factor into the cost of ICE vehicles going forward. Yes, you maybe thought you were avoiding these EV costs because you didn’t want an EV, but now we’re all going to pay. All these losses will be socialized in the end. Thanks progressives!
The corruption is breathtaking. No doubt politicians pushing this crap have filled their pockets.
Ace of Spades has an excellent round up of EV silliness today:
https://ace.mu.nu/archives/410778.php
Why does this ministry require 5 minister?
https://ised-isde.canada.ca/site/ised/en
I won’t go there as I will be censored.
Doug Ford hardest hit.
Anybody that is interested in the affairs of men, knew this from day 1.
The political scum will blow your money in a blink of an eye.
It is obviously good with the majority of the population.
‘brddddddRING “hundreds of zhobs”.
some maths.
lets avg and say 500 said zhobs.
gubbamint portion 550,000,000
oh look, 2 5s, makes it easy for the dummies. but watch out!!!
lop 2 zeroes of each figure, 5500000/5
or 1,100,000
over a MILLION *tax payers* dollars per zhob.
how does this compare with udder LIEberal zhob creation moves?
jist askin . . .
The ability of politicians and other people in power to utilize the government to their advantage, refusing science and establishing programs for their own personal financial gain, all in the name of protecting the environment and stealing the hard earned taxes from the people.
Where exactly is the build site? I tried to look on google and google earth but couldn’t find anything, have they done any work?