Becancour, Quebec, which aspires to become an EV-supply-chain center, has been selected as the site of a C$1.2 billion ($887 million) plant to create battery materials for electric vehicles (EVs), a collaboration of Ford Motor Co and South Korean firms said on Thursday.
A hamlet of less than 15,000 people on the St. Lawrence River, Becancour is rapidly becoming a primary electric vehicle (EV) supply-chain center in North America, and this is just the latest in a string of development announcements.
The press release mentions two South Korean companies as members of the consortium: EcoPro BM and SK On Co Ltd. Over time, the plant will crank out 45,000 metric tons annually of cathode active materials (CAM) for use in Ford electric vehicles.
In a joint statement, Canada and Quebec’s federal and provincial governments announced they would each lend the consortium C$322 million on conditional terms. The factory will create more than 345 jobs once construction begins in the first half of 2026.
As the globe works to reduce carbon emissions, Canada, home to a sizable mining industry for minerals like nickel, lithium, and cobalt, is attempting to entice firms engaged in all stages of the EV supply chain with a green technology fund in the multi-billion dollar range.
Industry Minister Francois-Philippe Champagne said this is a big deal for Quebec because the car industry has been putting most of its money into Ontario. Excitedly, Champagne said that now they have GM and Ford in Becancour.
The expansion of the chemical battery materials factory announced last year by General Motors Co and POSCO Future M of South Korea was announced in May. Battery materials producer BASF SE of Germany is also constructing a facility there.
The Ontario region west of Quebec is home to Canada’s fossil fuel-powered auto industry and has long-standing trade and production ties with Detroit’s Big Three. Volkswagen of Germany and Stellantis, parent of brands including Fiat and Chrysler, are building multi-billion dollar battery plants there.