GM and POSCO to build plant in Quebec to produce battery material
GM and POSCO to collaborate on a battery materials plant for the production of electric vehicles.
General Motors Co. and Posco Chemical announced a deal to build a plant in Quebec to produce material for batteries to be used in electric vehicles.
The companies say the new facility in Becancour, Que., will cost US$400 million.
It will produce cathode active materials for GM’s Ultium batteries.
Site preparation and construction are scheduled to begin in early next year.
The facility will be operated by a joint venture between GM and Posco Chemical and create about 200 jobs.
The companies also say the site will be built to allow for future expansion. With Canada trying to build a more domestic supply chain for the production of electric vehicles, the announcement also comes on the heels of Biden launching his ‘Buy America’ plan.