Back in May 2023, GM Authority reported that the joint venture between General Motors and POSCO Future M was granted a loan from the Canadian government to help facilitate the construction of a new Cathode Active Materials (CAM) processing plant in Bécancour, Québec. Now, it appears as though rival Ford is set to follow in The General’s footsteps.
SK On, EcoProBM and Ford recently announced a joint investment of $1.2 billion CAD, or roughly $890 USD, to build a cathode manufacturing facility for materials that will be used in future Blue Oval products.
“Ford has been serving customers in Canada for 119 years, longer than any other automaker, and we’re excited to invest in this new facility to create a vertically integrated, closed-loop battery manufacturing supply chain in North America designed to help make electric vehicles more accessible for millions of people over time,” Canada Ford President and CEO Bev Goodman stated in a prepared statement. “We’re excited for the opportunity for our first-ever investment in Québec with a new facility that will help shape the EV ecosystem there.”
Construction has already begun, while production is expected to officially begin early 2026. Ford estimates that this facility will create roughly 345 new jobs.
“By expanding here in North America, EcoProBM looks forward to globalizing our growth in cathode materials, which has been a unique strength of our company,” EcoProBM CEO Jae-hwan Joo explained. “We also are prepared to contribute to the community in Canada and Québec and contribute to the development of the local economy, including by hiring locally.”
“Through the cathode JV, the three companies can have a stable supply of battery raw materials in North America,” SK On Chief Commercial Officer Min-suk Sung was quoted as saying. “We will continue to work with our partners to lead electrification of the global auto market.”