Umicore, a Belgium-based company, said in July that it would delay spending on the construction of its battery component production plant in Loyalist, Ont., due to worsening EV market conditions. Two years ago, the company had announced its plan to create hundreds of jobs and produce batteries for one million electric vehicles annually starting in 2026. Jim Hegadorn, the town’s mayor, called the delay concerning for the community. (Sept. 17, 2024)