Canadian governments’ efforts to woo investment in electric-vehicle manufacturing are starting to bear fruit – especially with one aspect of the supply chain, in one corner of Quebec.
On Monday, General Motors Co. announced that, in partnership with the South Korean company POSCO Chemical Co. Ltd., it will begin construction on a new $500-million factory in Bécancour, Que. The plant, which GM says will be operational by 2025 and create about 200 jobs, will produce cathode active material (CAM) – a major component of EV batteries that GM will assemble in the United States.
The news was announced three days after the Germany-based chemical multinational BASF announced that it has acquired industrial land in Bécancour, and intends to produce CAM there as well. It is not yet clear which automakers will serve as clients for that plant, which will also recycle EV batteries.
Federal Innovation, Science and Industry Minister François-Philippe Champagne hailed the announcements as evidence that Canada will be able to maintain an integrated automotive sector with the United States as manufacturers electrify their fleets.
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