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OTTAWA (Reuters) - Several companies, including Germany’s BASF SE, are in preliminary talks about tapping a federal clean tech fund to set up production for electric vehicle batteries in Canada, a government official with knowledge of the discussions said.
FILE PHOTO: A logo is seen on the facade of the BASF plant and former Ciba production site in Schweizerhalle near Basel July 7, 2009. REUTERS/Christian Hartmann/File Photo/File Photo
The talks are centered on understanding whether the goals of BASF and others fit with the aim of the C$8 billion ($6.6 billion) “Net Zero Accelerator” (NZA) fund, the source said. Canada has set a goal to reach net zero emissions by 2050.
EnergyBASF, Canada in early talks on EV battery production - source
Christoph SteitzSteve Scherer
5 minute read
Several companies, including Germany s BASF SE (BASFn.DE), are in preliminary talks about tapping a federal clean tech fund to set up production for electric vehicle batteries in Canada, a government official with knowledge of the discussions said.
The talks are centered on understanding whether the goals of BASF and others fit with the aim of the C$8 billion ($6.6 billion) Net Zero Accelerator (NZA) fund, the source said. Canada has set a goal to reach net zero emissions by 2050.
BASF is a key supplier of cathode active materials (CAM) needed for the production of lithium-ion batteries in electric vehicles (EV), and is the world s largest chemicals and plastics producer by sales.