Volkswagen will build its first non-European battery factory in Canada in a bid to localize its EV production chain in North America, Reuters reports. The move comes several months after the German automaker signed an agreement with the country to access key battery raw materials. The new plant is “the largest single investment in the auto sector in the history of Canada,” the newswire quotes Canadian federal innovation minister Francois-Philippe Champagne as saying.

Canada is an EV hotspot: The country’s rich mining industry — which includes rare earths like lithium, nickel, and cobalt — along with its supportive legislation (think tax credits) are attracting EV business, the newswire reports. More investments could be on the way since Volkswagen announced it will invest EUR 180 bn over the course of five years in battery production, raw material sourcing, and more to attempt to lower EV prices and consolidate its sales in the market, Reuters reported separately.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

• China is set to nearly triple its planned wind and solar energy generation capacity to 3.3 GW by 2030. (Bloomberg)
• UK EV start-up Arrival received a USD 300 mn equity financing line from Westwood Capital to start producing electric vans in the US next year. (Reuters)
• A British tidal power facility on Liverpool’s Mersey river could provide 1 GW of clean power to 1 mn households in the UK. (CNBC)
• US energy giant Chevron is partnering with agribusiness companies Corteva and Bunge for the production of low-carbon biofuels from canola crops. (Reuters)