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Loan to the electric vehicle battery factory Lion Electric

Last updated: 13 July 2021

The federal and Quebec governments announced a CAD 100 million loan to the Montreal-area company Lion Electric for the construction of an electric vehicle battery factory in Saint-Jérome.

The government underlined the importance of such investments to retain employment, and develop professional skills within critical sectors favourable to the development of a healthy economy. Roughly $30 million will be forgivable if the company meets certain conditions, including keeping jobs in Quebec.

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