On the same day Toronto-based First Cobalt announced a name change to Electra Battery Materials, the company also announced plans to build first EV battery materials facility in North America.
In a press release on Sunday, the newly named company said the facility will provide battery grade nickel and cobalt, recycled battery materials and precursor materials to the North American supply chain.
“Globalization has created an electric vehicle supply chain that is too long, too costly and increasingly unreliable. Our automaker clients have a strong interest in greater localization of the upstream supply chain to achieve greater reliability, security of long-term supply, and a lower carbon footprint,” said Trent Mell, President & CEO.
The company announced it is already in talks with several potential nickel suppliers, which when combined with their existing cobalt supply, could translate into enough raw EV battery materials for more than 1.5 million EVs per year.
Electra is also in early talks with precursor manufacturers to partner on the construction of a precursor facility on its Canadian site in 2025.
The facility will be located in the Electra Battery Materials industrial park in Ontario.
