The federal government says it did not lose any money after Swedish battery maker Northvolt went under, meanwhile, Quebec’s government says it lost $270 million in the deal and Quebec’s pension fund manager says it lost $200 million.
Ottawa and Quebec had announced support for the company in September 2023 to build a mega factory in the Montreal area in a bid to make the province a key player in the electric vehicle supply chain.
Battery cell maker Northvolt AB announced it filed for bankruptcy in Sweden earlier this month and decisions about its Canadian subsidiary were expected to be made by a court-appointed trustee and by lenders….