Vancouver Rundown Thursday December 5, 2024

A Taiwanese company has pulled the plug on plans to build a $1B battery plant in Maple Ridge. Both Prime Minister Justin Trudeau and Premier David Eby attended last year’s announcement, promising a combined $285 million in government funding to help kickstart construction of the lithium-ion battery cell plant. Now the plant’s parent company, Taiwan Cement, says Canadian plans have been put on hold to concentrate on Taiwanese production. Experts continue to predict a lower demand for EV batteries heading into 2025 and beyond.