Prime Minister Justin Trudeau and Quebec Premier François Legault are in Montreal on Thursday to announce that a multibillion-dollar electric vehicle battery plant will be built east of the city.
Executives from Swedish battery company Northvolt, Europe’s largest integrated battery manufacturer, will join political leaders in Montreal at 11 a.m. ET to announce their choice for the new megafactory.
The plant, to be built in the area near Saint-Basile-le-Grand and McMasterville, Que., about 30 kilometers east of Montreal, is expected to create approximately 4,000 jobs. The chosen site is expected to be the size of more than 75 football fields, or 100 hectares.
The province beat California to the deal by having more attractive financing terms, according to Radio-Canada.
Various reports, including Radio-Canada, cite public and private investments close to $7 billion for the project.
In total, Quebec and Ottawa are expected to invest $2.7 billion for the construction of the factory, which is expected to be built by the end of 2026.
The Swedish giant purchased almost double the land needed for the project for a possible future expansion.
But the news is already raising fears in the region related to noise and pollution from the plant.
A petition with 700 signatures has been submitted to McMasterville City Council to block the project.
Thursday’s event will add to a series of recent announcements in the battery ecosystem in Quebec. Ottawa and Quebec announced an investment of more than $640 million for a new Ford electric vehicle plant in Bécancour, Quebec, last month.