Northvolt Case Highlights in Pivotal Stages

In the summer of 2023, a significant development took place as Ottawa and Quebec announced a joint investment for the construction of a mega-factory for Northvolt's battery cells. The project, aimed at producing batteries from start to finish in Canada, seemed promising. However, a series of events over the next year would cast a shadow over Northvolt's future in Quebec.

On September 3, 2024, Pierre Fitzgibbon, Minister of Economy, Innovation, and Energy in the Legault government, announced his resignation. His departure marked a turning point in the Northvolt project's leadership. Monique Gagnon took over the leadership of the Northvolt project in Quebec shortly after.

However, Northvolt's financial difficulties did not abate. In September 2024, the company announced its intention to reduce its international activities. The Quebec assets of Northvolt expressed interest, but no official announcement has been made.

On March 12, 2025, Northvolt declared bankruptcy in Sweden, leading to the layoff of around 5000 employees, more than half of its workforce. The same month, an anonymous militant group claimed responsibility for an act of "sabotage" on the site by planting nails in trees to prevent their felling.

The site chosen for Northvolt's future factory sparked criticism and concerns regarding the environmental impact. The Centre québécois du droit de l'environnement filed an injunction request to stop the project on January 18, 2024, but it was ultimately rejected by the Superior Court. A few days later, Northvolt began work on the site, putting several natural habitats at risk.

On November 10, 2023, only one portion of the megaproject (battery recycling) was subject to an environmental impact assessment by the Bureau d'audiences publiques sur l'environnement (BAPE). The Caisse de dépôt et placement du Québec had also invested $200 million in Northvolt, but the $270 million invested in the Swedish parent company was lost.

On August 7, 2025, the American company Lyten bought Northvolt's assets in Sweden and Germany. As for the future of Northvolt's megaproject in Monteregie, no information has been provided.

In a separate development, Isabelle Vaillancourt, magazine editor, passed away. No information about a new editor for Publications BLD was provided.

Despite these challenges, François Legault, the Premier of Quebec, expressed satisfaction with his economic record. The Quebec government's investment in Northvolt, while resulting in a loss, could potentially pave the way for future opportunities in the battery industry. The outcome of Northvolt's Quebec operations remains uncertain, with the Quebec assets expressing interest but no official announcement made.