The Japanese automaker, which has been slow to sell electric vehicles, said it would invest $11 billion to make batteries and cars in Ontario.
To decarbonize the electrical grid, companies are finding creative ways to store energy during periods of low demand.
Demand for lithium, which is used in electric vehicle batteries, has soared but domestic production of the metal has lagged behind other countries.
Once considered a laggard, the German luxury carmaker is one of only a few established automakers that has been able to compete effectively against Tesla.
Quarterly earnings soared from a year earlier after the company booked a tax benefit, but increased competition and a price war took a toll, the electric-car maker said.
The Biden administration issued new rules to prevent Chinese firms from supplying parts for electric cars set to receive billions of dollars in tax credits.
After decades of stagnation, the Tar Heel State is the beneficiary of a lithium rush fueled by demand for car batteries.
Electric vehicles really are better for the environment than hybrid vehicles that have both gas and electric motors.
The move is the oil giant’s first foray in the production of a metal vital for electric vehicle batteries.
Ford, General Motors and others are striking deals with mining companies to avoid raw material shortages that could thwart their electric vehicle ambitions.