QUÉBEC AND OTTAWA AWARD $300 MILLION TO GM FOR BATTERY EQUIPMENT PLANT
By Éric Descarries
The GM and Posco Future M cathode material plant for the positive electrode of lithium-ion batteries is already under construction, as the Canadian and provincial governments announce their financial support. This material, typically composed of a mixture of lithium, nickel, manganese and cobalt, represents around 40% of the cost of the batteries. The two governments have therefore agreed to contribute some $150 million each, which would represent almost half of the $600 million required for the project.
Bécancour’s production is expected to be used in Ultium batteries, which will be made at GM’s American plants in the USA and will soon be found in Chevrolet Silverado EVs, Cadillac Lyriqs and BrightDrop delivery vans, all built in Ontario. Production in Québec is scheduled to start in 2025.