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NEO Battery Materials Ltd. has announced plans to establish Canada's first advanced silicon anode manufacturing facility on 8 acres of land in Windsor, Ontario, positioning itself as a key player in the Canadian battery value chain. The facility will have the capacity to produce 5,000 tons of silicon anodes annually and is set to create over 100 skilled jobs. With an initial investment of CAD 69 million, expanding to approximately CAD 120 million over the next eight years, the project aims to enhance the resilience of Ontario's battery supply chain. Supported by tax incentives and a grant from Windsor City Council, this venture underscores the strategic location and infrastructure of Windsor as fertile ground for innovation in electric vehicle battery technologies.
In other market news, Hyundai MobisLtd was a standout up 4.6% and finishing the session at ₩263,500, close to the 52-week high. On Friday, the company launched a global campaign featuring innovations like the Holographic Windshield Display, attracting significant attention at CES 2025. At the same time, Huagong Tech lagged, down 6.9% to end trading at CN¥39.30.
Best EV Stocks
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NIO ended the day at $4.29 up 3.9%.
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Ford Motor ended the day at $10.12 down 0.4%.
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Tesla settled at $406.58 down 1.4%.
Summing It All Up
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.