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EV/AV Report: January 31, 2022

Toronto, Ontario – In this week’s electric and autonomous vehicle report, the federal government invests half-a-million dollars into EV awareness campaigns in Ontario, Tesla is putting a priority on output this year and a Quebec recycler has secured funding for a recycling plant in the province.

EV Exposure

The federal government announced that they have invested $500,000 into EnviroCentre and Plug’n Drive for the development of two public-facing EV awareness campaigns, in the hopes of spurring increased adoption in Ontario.

EnviroCentre will receive a $283,500 investment to develop and launch an EV test drive concierge service that will arrange EV test drives in Ottawa and provide consumers with access to up-to-date, accurate information on EVs, available incentives, cost-analysis, comparison and environmental benefits.

Plug’n Drive will receive a $225,000 investment to create and deliver virtual webinars and in-person test drive opportunities for the ride-sharing and delivery segments of transportation.

Federal funding for both projects is provided through Natural Resources Canada’s Zero-Emission Vehicle Awareness Initiative

Tesla Siesta

Tesla CEO Elon Musk announced during the company’s Q4 2021 earnings call that there will be no new vehicle launches this year, including the highly anticipated Cybertruck that Musk says will “hopefully” be road-ready in 2023.

The company will spend the year focused on output, with Musk saying “If we were to introduce new vehicles, our total vehicle output would decrease.”

Tesla’s 2021 vehicle production closed at 936,000 units, up 87 percent from 2020. Musk says he wants the company to be producing 250,000 Cybertrucks a year when they have the capability.

Battery Base

Lithion Recycling has announced that they have secured $125 million in first-round funding to build a lithium-ion battery recycling plant in Quebec.

The company received investments from South Korea’s IMM Investment Global Ltd. and Quebec-based labour-sponsored fund, Fondaction, to build a mechanical separation plant and a Technology Development Centre in Montreal.

“We’re very excited and very proud to bring in the capital so we can deploy and commercialize our [battery recycling] solution. We know what we do makes a lot of sense for society—today and tomorrow,” said Lithion CEO Benoit Couture.

Lithion says that they are looking for $300 million in second-round investments to develop a hub facility in Quebec within the next 18 months.

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