Quebec’s Northvolt project is officially dead — and the government says it is cutting its losses.
Christine Fréchette, Quebec’s economy minister, announced Tuesday that the province will invest no further money in Northvolt Batteries North America.
“The company’s failure to present a satisfactory plan with regard to Quebec’s interests has led us to assert our rights in order to recover as much of our investment as possible,” Fréchette’s said in a statement. “This venture proved unsuccessful, and we are obviously disappointed.”
