The entrance to the Northvolt plant in Saint-Basile-le-Grand, east of Montreal. Photo by Christinne Muschi/THE CANADIAN PRESS

Quebec’s economy minister says that the Canadian province has managed to recoup part of its investment in bankrupt electric vehicle battery maker Northvolt AB .

“We have guarantees to recover the sums invested in the purchase of the Northvolt site,” Minister Christine Frechette said Friday night on X, referring to the land where a Northvolt battery plant was to be built near Montreal. “We have exercised these guarantees and have recovered, in the first instance, nearly 200 million on our loan.”

Quebec has lost $270 million on its equity investment in Sweden-based Northvolt, but still had a senior secured loan tied to the land acquired to build the plant, wh

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