The price of the land earmarked for the planned Northvolt electric vehicle battery plant in Quebec’s Montérégie region has surged by 31% to reach a substantial $315 million.
A recent report from La Presse reveals that the property’s value, assessed by real estate experts at CBRE in July, has spiked by $75 million, underlining the growing importance of the South Shore location.
In a related development, the Quebec government made waves last week by withdrawing its financial support from Northvolt. The Swedish company’s North American branch currently faces a debt of $260 million owed to the province of Quebec.
