The Prime Minister, Justin Trudeau, and the Premier of Ontario, Doug Ford, are welcoming Asahi Kasei Corporation's investment of approximately $1.6 billion to build an EV battery separator plant in Port Colborne, Ontario. As medium- to long-term growth is forecasted in the North American EV market, the company expects to make additional multi-billion-dollar investments through multiple phases. Details regarding direct jobs created by this investment are currently being finalized and will be announced at a later date.

Asahi Kasei's decision to build this new facility in Port Colborne is a testament to Canada and Ontario's competitive business environment, highly skilled workforce, and dependable supply chains. The project is expected to benefit from federal support through the Clean Technology Manufacturing investment tax credit. Ontario expects to support this project with both direct and indirect incentives.