[{"data":1,"prerenderedAt":715},["ShallowReactive",2],{"ticker-data":3,"story-article/volkswagen-confirms-canada-battery-entry-with-plan-for-gigafactory":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":713,"relatedVideos":714},112471669873300,"93555ebb-0d15-42c7-aa00-114505f6a006","Volkswagen confirms Canada battery entry with plan for gigafactory","volkswagen-confirms-canada-battery-entry-with-plan-for-gigafactory","article/volkswagen-confirms-canada-battery-entry-with-plan-for-gigafactory",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":691,"featured":50,"reporter":692,"_editable":696,"component":697,"seo_title":543,"categories":698,"visibility":705,"author_company":49,"featured_image":706,"seo_description":691,"author_full_name":49,"author_job_title":49,"formattedDate":711,"formattedArticleDate":712},"9fd3d33f-72a8-4893-84d2-30952ac53b2b","2023-03-16 00:00",[550,553],{"slug":551,"name":552},"canada","Canada",{"slug":554,"name":555},"volkswagen","Volkswagen",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,581,586,591,596,601,606,621,626,631,636,649,654,659,664,669,674,686],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Volkswagen plans to spend €15 billion ($16 billion) over the next five years on battery plants and to secure critical raw materials, a move that includes setting up its first cell making gigafactory outside of Europe in Canada.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"The German automaker’s latest plan is part of its bigger push to spend €180 billion ($192 billion) towards electrification by 2027 to get a stronger foothold in the battery supply chain including cell production and access to critical battery raw materials such as lithium, nickel, and cobalt. ",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"“VW is diversifying its battery manufacturing strategy outside of Europe and China to capture significant market incentives originating from the IRA. Specific legislative financial support is available in the US, which is not offered in Europe,” said James Mills, analyst at Benchmark.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"Volkswagen has set an ambitious target of 50% electric vehicle sales globally by 2030. To meet the high demand for battery cells, Volkswagen, with its partners, aims to build six gigafactories in Europe alone with a production capacity totaling 240 GWh by 2030.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"Canada calling",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":575},"A gigafactory in Canada would help Volkswagen tap subsidies from the recently passed Inflation Reduction Act (IRA) in the United States that is aimed at building local supply chains and lowering reliance on China.",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604],{"text":605,"type":575},"The IRA incentivises automakers to source or process critical battery minerals in the US or in a country with which it has a Free Trade Agreement (FTA) such as Canada in order to receive tax credits. It also demands that the majority of the components of a battery such as cathodes are made in North America starting in 2024.",{"type":570,"attrs":607,"content":608},{"textAlign":49},[609,611,619],{"text":610,"type":575},"“The business case for Canada is driven by access to IRA credits, low cost, renewable ",{"text":612,"type":575,"marks":613},"hydroelectric power",[614],{"type":615,"attrs":616},"link",{"href":617,"uuid":49,"anchor":49,"target":49,"linktype":618},"https://source.benchmarkminerals.com/article/clean-energy-lures-gm-posco-and-basf-cathode-projects-to-quebec","url",{"text":620,"type":575}," to support manufacturing cost reduction, a roadmap for carbon reduction and local availability of cathode and critical minerals,” said Mills.",{"type":570,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":575},"Vokswagen’s battery subsidiary PowerCo and Belgium’s Umicore had in December extended a collaboration for cathode and precursor material into the North American market. The two companies had in September announced a $2.9 billion battery parts joint venture to supply the German automaker’s battery subsidiary battery cell factories in Europe 2025 onwards.",{"type":570,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":575},"Umicore’s Ontario cathode plant is expected to begin production at the end of 2025 with the potential to supply up to 40 gigawatt-hours (GWh) a year by 2030, enough for over half a million electric vehicles.",{"type":570,"attrs":632,"content":633},{"textAlign":49},[634],{"text":635,"type":575},"Umicore’s Ontario plant has a 95,000 tonnes a year high nickel cathode capacity in the making and Canada’s cathode capacity is set to reach ~260,000 tonnes a year by 2030, according to Benchmark’s Cathode Forecast. ",{"type":570,"attrs":637,"content":638},{"textAlign":49},[639,641,647],{"text":640,"type":575},"Further, Volkswagen also ",{"text":642,"type":575,"marks":643},"signed agreements",[644],{"type":615,"attrs":645},{"href":646,"uuid":49,"anchor":49,"target":49,"linktype":618},"https://source.benchmarkminerals.com/article/vw-mercedes-head-to-canada-seeking-raw-materials-but-can-it-meet-automaker-demand",{"text":648,"type":575}," with Canada last year for developing and sourcing critical minerals. ",{"type":570,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":575},"Building a North American supply chain",{"type":570,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":575},"Production at Volkswagen’s Ontario cell factory is expected to begin in 2027. The automaker also announced an electric vehicle assembly facility in South Carolina earlier this month and has been offered $1.3 billion from the state government. The steps indicate Volkswagen’s commitment to establish a complete North American EV supply chain.   ",{"type":570,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":575},"“And for the upcoming years, we will decide where we want to build new battery plants. And that depends a lot on the industrial framework we are getting in the regions, which support we are getting on the financial level and what the big row is the energy pricing,” Oliver Blume, CEO of Volkswagen Group, told investors at the company’s annual day earlier this week.",{"type":570,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":575},"“And turning to North America, the decision we have taken for the Canada plant provides all these aspects, a very positive industrial framework, and guarantees for energy pricing. And beside of this, the opportunity for cooperation and value chain energy and raw materials and that makes this decision so attractive,” said Blume.",{"type":570,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":575},"Volkswagen is Europe’s largest traditional automaker and also has a strong presence in China but North America has historically not played a significant role in revenue share for Volkswagen globally. The German automaker aims to change that and is prioritising North America as it expands presence in the electric vehicle space to take on Tesla and other Chinese EV makers.",{"type":570,"attrs":675,"content":676},{"textAlign":49},[677,679,684],{"text":678,"type":575},"“Canada has potential for a strong upstream and midstream supply chain with ",{"text":680,"type":575,"marks":681},"cathode majors",[682],{"type":615,"attrs":683},{"href":617,"uuid":49,"anchor":49,"target":49,"linktype":618},{"text":685,"type":575}," BASF, Posco and EcoPro have all announced plans for cathode production facilities in the region but there has been a lack of investment downstream,” said Aran Waid, analyst at Benchmark.",{"type":570,"attrs":687,"content":688},{"textAlign":49},[689],{"text":690,"type":575},"“This announcement may start opening the doors to further downstream investment in Canada, particularly as more cathode and anode players enter the Canadian market,” said Waid.","Volkswagen plans to spend €15 billion ($16 billion) over the next five years on battery plants and to secure critical raw materials, a move that includes setting up its first cell making gigafactory outside of Europe in Canada. The German automaker’s latest plan is part of its bigger push to spend €180 billion ($192 billion) […]",[693],{"slug":558,"name":559,"content":694},{"job_title":561,"image":695,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"9fd3d33f-72a8-4893-84d2-30952ac53b2b\", \"id\": \"\"}-->","article",[699,702],{"slug":700,"name":701},"batteries","Batteries",{"slug":703,"name":704},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":707,"name":707,"focus":707,"title":707,"source":707,"filename":708,"copyright":707,"fieldtype":709,"meta_data":710,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/cf95e781fd/bm-vw-powerco-canada.jpg","asset",{"alt":707,"title":707,"source":707,"copyright":707},"Mar 16, 2023","16th March 2023",[],[],1781023436037]