Battery Maker Northvolt Conducts Review of Expansion, Says Quebec Plant Going Ahead as Planned

Published on July 2, 2024

Swedish electric vehicle battery maker Northvolt is conducting a strategic review of its recent expansion moves, but says construction of its Québec plant will continue as planned. Ottawa and Quebec announced last September the company would be receiving billions in subsidies as it builds a mega factory on Montreal’s south shore. Questions were raised about the expansion after the company announced a strategic review and its CEO said its Canada plan could be affected. “A strategic review is underway at Northvolt, to be concluded in the autumn, involving evaluation of timelines and capital allocation to ensure we are pursuing the most effective build-out of capacity possible,” Northvolt said in a July 2 statement reported by Reuters. The news agency also quoted the company’s CEO Peter Carlsson saying planned plants in Germany and Montreal could be reconsidered as a result....

Continue reading on website
Other news

3 Members of ‘Burglary Tourism’ Crew Sentenced for SoCal Home Break-In

July 2, 2024
VISTA, Calif.—Three men who local prosecutors say were part of a foreign burglary crew that broke into a Carlsbad home were sentenced Monday, July 1, to state prison terms.Prosecutors say the defendants, who hail from Chile and Italy, operated much like other foreign theft groups whose members enter the U.S. through the ESTA Visa Waiver program, then target homes in wealthy neighborhoods.San Diego

West Virginia Governor Says $826 Million Surplus Will Trigger Tax Cuts

July 2, 2024
West Virginia Gov. Jim Justice said the state ended its fiscal year with a revenue surplus that is expected to trigger cuts to the state’s personal income tax requirement.Mr. Justice announced on July 1 during his fiscal year end report that the state collected an extra $826 million, which will reduce income tax rate by approximately 3 to 4 percent.“When I first took office, I promised you all a r