Ontario aims to boost the EV industry because it has been a part of a critical minerals strategy for five years. In the exploration program of the EV industry Ontario recently invested $24 million. And half of the funding is for critical minerals. And there is also $5 million for the innovation of critical minerals.
This is the game-changing investment to build the electric vehicle industry because this is the future of the vehicle industry. Ontario is riched with platinum, lithium, cobalt, nickel, and other crucial raw materials. Ontario must include their investments to complete the demand of supplying those minerals.
Ontario has its exploration projects and many advanced projects for critical mineral strategies. Generally, the critical mineral strategy aims to explore, decrease regulatory burdens on local supply chains, and build economic development opportunities. Different countries identify many types of minerals supplied by Ontario for electric vehicles.
In 2018, Ford promised to develop the fire in a minerals region 500 kilometres in thunder bay. And the competitors pointed out that this does not happen anymore. And the critical mineral strategy is the most important for Ford’s promises in the election.
Ontario aims to make an attractive investment in electric vehicles, the critical mineral strategy in today’s world. The electrical vehicle and battery production is the crucial part. And Ontario always prioritizes that industry for recycling or reusing production of that industry.