Volkswagen-backed PowerCo SE is moving forward with its St. Thomas gigafactory project, with site preparation complete and groundbreaking set for 2024.
The Canadian entity of the battery company will be named PowerCo Canada Inc. and will be headquartered in St. Thomas, Ontario. The company has already begun setting up a local office and hiring locally, and has signed its first service agreements with local providers.
PowerCo’s St. Thomas gigafactory will be the company’s first overseas facility and will be its largest to date. The factory will have an annual production capacity of up to 90 GWh in the final expansion phase and will create up to 3,000 jobs.
The factory will be powered by CO2-free energy and will produce battery cells for Volkswagen Group’s electric vehicles in North America. The project is part of a larger plan to establish a Canadian EV battery supply chain.
PowerCo Canada Inc. has begun working with the province of Ontario and the city of St. Thomas to prepare the local workforce for the new industry. The company has also hosted a webinar to introduce potential suppliers to its sourcing strategy.
The St. Thomas gigafactory is expected to begin production in 2027.
Here are some key points from the press release:
- PowerCo SE has completed site preparation for its St. Thomas gigafactory.
- The company will invest up to €4.8 billion / CAD$ 7 billion in the project.
- The factory will have an annual production capacity of up to 90 GWh.
- The project will create up to 3,000 jobs.
- The factory will be powered by CO2-free energy.
- The factory will produce battery cells for Volkswagen Group’s electric vehicles in North America.
- The project is part of a larger plan to establish a Canadian EV battery supply chain.
- PowerCo Canada Inc. has begun working with the province of Ontario and the city of St. Thomas to prepare the local workforce for the new industry.
- The company has also hosted a webinar to introduce potential suppliers to its sourcing strategy.
- The St. Thomas gigafactory is expected to begin production in 2027.
