General Motors has announced plans to make electronic vehicle battery materials in Canada. These materials specifically act as particles for the electric vehicle battery. General Motors will be teaming up with a South Korean company to build a plant that will produce these materials. We get more about this situation with some help from Reuters.
At A Glance
- General Motors is going to use materials in Canada to make EV batteries.
- The company will work with POSCO Chemical of South Korea.
- Price tag for the facility both will be working on is $400 million.
- General Motors says this plant will be locatd in Becancour, Quebec.
General Motors Plans EVs Battery Plant In Canada
So, General Motors and South Korea’s POSCO Chemical are going to work together and build a $400 million facility. This will help produce battery materials in Canada. The automaker is looking to ramp up their plans around making mainly electric vehicles (EVs) in the future, both companies said on Monday.
This plant will be focusing on producing cathode active material (CAM) for vehicle batteries in Becancour, Quebec. What are cathodes? They are the most complex and costly chemical component of an electric vehicle battery. Scott Bell of GM said that the cathode “represents about 40% of the cost of every EV battery cell.” Bell is GM Canada’s President and Managing Director. He said in a news conference, “We plan to have capacity by 2025 to build a million EVs in North America.”
When will this plant be built? Construction plans are in early stages right now. The goal is to have it up and running by 2025. Meanwhile, an estimated 200 jobs will be created thanks to this plant, according to a statement. GM does have an aim in making light vehicles that run exclusively on electricity by 2035.
Plant Will Produce CAM Which Goes Toward GM’s Ultium Batteries
Additionally, the plant is aiming to make CAM. That is going into GM’s Ultium batteries. They will help power the company’s EVs, such as the Chevrolet Silverado EV, GMC HUMMER EV, and Cadillac LYRIQ. Also, GM’s Ingersoll, Ontario, Canada factory will launch EV production later this year, Bell said.
Details remain close to the vest right now. However, it is known that Canada’s federal government and Quebec’s provincial government are working with GM and POSCO Chemical. Canada is rich in key materials for EV battery production. The materials include lithium, graphite, cobalt, and nickel.
The country has been wanting to get battery makers up there. In conclusion, they want to safeguard the future of their car manufacturing industry as the world seeks to cut emissions.
