EventAction
Quebec declares the Northvolt battery plant partnership dead and writes off its $270 million investment
Quebec Economy Minister Christine Fréchette announced on 2 September 2025 that the province would put no more money into Northvolt Batteries North America, ending the planned $7 billion battery plant in Saint-Basile-le-Grand and McMasterville, CBC News reported. Quebec had committed $510 million: it lost its $270 million investment in the parent company, which went bankrupt in Sweden in March 2025, and said it would recover its $240 million loan, filing a court application to that end. The Caisse de dépôt et placement du Québec had also lost a $200 million investment. Northvolt North America said its operations were not bankrupt and that it still had substantial resources to relaunch the project.
- Date
- Kind
- Other
- Where
- Quebec
- Evidence
- Action: Something was done: a law switched on, a tariff imposed, money committed. How evidence is weighed
- Who
- Government of Quebec (subject)
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