GM and POSCO to build plant in Quebec to produce battery material for electric cars
Global News
The companies say the new facility in Bécancour, Que., will cost US$400 million. It will produce cathode active materials (CAM) for GM's Ultium batteries.
General Motors Co. and South Korea’s Posco Chemical announced a deal Monday to build a plant in Quebec to produce material for batteries to be used in electric vehicles (EV).
The companies say the new facility in Bécancour, Que., will cost US$400 million.
It will produce cathode active materials (CAM) for GM’s Ultium batteries and will be a standalone factory, with the materials being moved to Ultium plants in the U.S. where the battery cells will then be made.
“It is so exciting to see GM Canada and Quebec playing a key role in building the emerging ‘mines to mobility’ EV battery ecosystem in North America,” Scott Bell, president and managing director of GM Canada, said in a news release.
The company said CAM consists of processed nickel, lithium and other materials, and will ultimately help power electric vehicles such as the Chevrolet Silverado EV and GMC Hummer EV.
CAM represents almost 40 per cent of the cost of every EV battery.
Site preparation and construction are scheduled to begin immediately and will create around 200 jobs.
This announcement comes after GM and Posco agreed to form a CAM processing joint venture in December and build a factory in North America.
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