Canada is attempting to grow its own domestic EV supply chain in order to become the world leader in EV battery production. It is already out competing China thanks to it's large natural resource supply and developed mining and refining industries.
The general idea is that Canada doesn't want to be China's supplier of raw materials and helping them become the world's supplier of EV batteries when Canada could be that supplier.
One of the best conceptualizations of how much money the richest people have is to imagine stacking US dollars, but horizontally instead of vertically. Imagine there was a game where you could walk next to this stack and, when you stopped walking, you'd win all the money you walked past.
In just a few seconds you'd have earned over $10,000, a large sum for most people, but nobody would stop walking then. After just a minute you'd have $1,000,000, a life changing amount of money! What if you kept walking? What if you wanted to be in the top 100 richest in the world?
You'd die from exhaustion well before getting anywhere near the wealth of the top 100. It took only 1 minute to get a life changing amount of money, but it would take more than 4 days of continuous walking to make the $19,500,000,000 needed to crack the top 100.
I got this from this Tom Scott video where he drives for an hour on the highway in order to pass $1 billion.