September 8, 2025: Quebec’s economy minister said on September 2 the province will invest no further cash in Northvolt Batteries North America — and will seek to recover whatever it can.

Christine Fréchette’s announcement ended the Quebec government’s support to complete construction of an EV battery manufacturing plant in the Montérégie region.

The move came less than a month after lithium sulfur developer Lyten said it had agreed a deal to acquire Northvolt’s assets in Sweden and Germany — and would acquire the 15GWh phase 1 Northvolt Six project in Quebec.

Fréchette said as Northvolt had not presented a plan that satisfied Quebec’s interests, “we are asserting our rights to recover the maximum of our investment”.

However, Fréchette said the decision did not spell the end of the battery industry in the province, which “is alive and well with several companies active” in the sector.

Quebec has already invested C$510 million ($370 million) in the Northvolt project, including a guaranteed loan of C$240 million for the purchase of land and a subscription of $270 million in the company’s parent company in Sweden.

The sums lost amount to C$270 million, while the loan has guarantees to secure repayment.

Northvolt filed for bankruptcy in Sweden last March. On August 7, Lyten said it had agreed a deal to acquire Northvolt’s remaining assets in Sweden and Germany.

Lyten acquired Northvolt’s Cuberg battery manufacturing facility in California last year.