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A group led by Ford Motor Company and South Korean firms announced on Thursday that they would construct a C$1.2 billion ($887 million) plant in Becancour, Quebec, which aims to become a hub for the EV supply chain, to create materials for EV batteries.
According to the release, the partnership includes South Korean companies EcoPro BM and SK On Co Ltd. For Ford EVs, the facility will eventually generate 45,000 tonnes of cathode active materials (CAM) annually.
The consortium will get a conditional loan of $322 million from the federal government of Canada, and Quebec will provide the same sum as a loan that is partially forgiven, according to the statement.
More than 345 jobs will be created by the factory, and construction is anticipated to begin in the first half of 2026.
This is the most recent in a string of building announcements for Becancour, a town of less than 15,000 residents on the St. Lawrence River that is quickly emerging as a North American hub for the EV supply chain.
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Canada’s Drive to Support Electric Vehicle Supply Chain
As the globe works to reduce carbon emissions, Canada, which has a sizable mining industry for minerals like lithium, nickel, and cobalt, is attempting to court businesses involved at all points in the supply chain for electric vehicles.
A plant for chemical battery materials, whose development was first announced last year, will see an increase in production capacity, according to a May announcement from General Motors Co. and South Korea’s POSCO Future M.
There is also a facility for battery materials being built by BASF SE of Germany.
West of Quebec in Ontario, the center of Canada’s fossil fuel-powered car industry with long-standing trade and production ties with the Detroit automakers, German automaker Volkswagen and Stellantis, the parent company of brands like Fiat and Chrysler, are building multibillion-dollar battery plants.
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Source: Reuters
