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PowerCo Delays Canadian Battery Plant to 2029 as EV Demand Cools
Key Takeaways
- PowerCo, Volkswagen Group's battery unit, delayed start-up of its St. Thomas, Ontario plant to 2029.
- The company cited market demand and technological advancements as reasons for the delay.
- PowerCo said the site remains the cornerstone of its North American strategy.
- The project is re-phased rather than cancelled, with capacity plans unaddressed.
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DT Editorial Team··via autonews.com