GM secures financial support for an EV battery plant in Quebec
General Motors and Posco Future M have secured half of the financing for a C$600-million ($442-million) electric-vehicle battery component plant in Quebec from the provincial and federal governments. In March 2022, the US and South Korean companies announced plans to form a joint venture dubbed Ultium Cam and build a cathode material factory in Becancour, halfway between Montreal and Quebec City. Cathodes represent about 40% of the cost of a battery cell, according to General Motors. The carmaker has committed to invest $35-billion in electric and autonomous vehicles between 2020 and 2025...
Source: miningweekly.com
