Belgium / Germany / Canada – PowerCo SE, the new battery subsidiary of the Volkswagen Group based in Salzgitter, Lower Saxony, Germany, has signed a Memorandum of Understanding with Umicore SA of Brussels, Belgium which could see Umicore supplying PowerCo with critical materials for batteries assembled in North America. 

In July, Umicore announced its plan to build a facility for the manufacture of cathode active battery materials and their precursor materials in the province of Ontario in Canada. It claims the factory will become the first of its kind in North America to combine the production of cathode and precursor materials for batteries in one place. The Belgian company has secured a 350-acre plot of land in Loyalist in eastern Ontario and government funding to support the construction of the facility. Work on the site will begin next year, with the beginning of operations slated for the end of 2025. By the end of the decade, Umicore aims to build up enough capacity to supply one million EVs per year.