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Arbor Metals Applauds Canadian Government's Commitment To Establishing Canada as Global EV Supply Chain Leader
(TheNewswire) Vancouver, Canada – July 9 th , 2023 – Arbor Meta...
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[{"type":"text","content":"Arbor Metals Applauds Canadian Government's Commitment To Establishing Canada as Global EV Supply Chain Leader\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, Canada\n– July 9\n \n \n th\n \n \n , 2023 –\n \n \n \n Arbor Metals Corp.\n \n \n \n (“\n \n \n Arbor\n \n \n ” or the\n“\n \n \n Company\n \n ”) (TSXV:\n \n ABR\n \n \n )\n \n \n ,\n \n \n (\n \n \n FWB: 432) commends the\nCanadian government's dedication to solidifying Canada's place as a\nglobal leader in the electric vehicle (EV) supply chain. As reported\nby Reuters on July 5th, significant government's efforts are being\nmade to support the development of the EV industry in Canada,\npositioning the nation for sustainable growth and success.\n \n \n \n \n The article highlights the decision by Stellantis-LG\nEnergy Solution (LGES) to resume construction of an electric-vehicle\nbattery plant in Windsor, Ontario, following increased subsidies\nprovided by the federal government and the province of Ontario. This\nsignificant development is set to create approximately 2,500 new jobs\nand establish an annual production capacity exceeding 45 gigawatt\nhours by 2024.\n \n \n \n \n Arbor extends its appreciation to the Canadian\ngovernment for meeting the demands of Stellantis-LG Energy Solution,\nand ensuring a level playing field by providing substantial support\ncomparable to that available under the Inflation Reduction Act (IRA)\nin the United States. By doing so, Canada showcases its commitment to\nfostering a thriving EV industry and creating a supportive environment\nfor companies investing in clean-tech initiatives.\n \n \n \n \n Industry Minister Francois-Philippe Champagne and\nFinance Minister Chrystia Freeland expressed their confidence in the\nagreement, stating, \"This agreement is good for workers and it is\ngood for Canada. It will create and secure thousands of jobs - both in\nthe auto sector and in related industries across Canada - and will\nfurther solidify Canada's place as a leader in the global electric\nvehicle supply chain.\"\n \n \n \n \n The commitment of the Canadian government to becoming a\nglobal leader in the EV industry aligns seamlessly with Arbor's\nstrategic objectives. Arbor is confident that its Jarnet Lithium\nprojec...