General Motors (GM) and POSCO Chemical are collaborating with the governments of Canada and Quebec to construct a new facility in Bécancour, Quebec, estimated at C$500 million ($400 million). The facility will produce cathode active material (CAM) for GM's Ultium batteries, powering electric vehicles like the Chevrolet Silverado EV, GMC HUMMER EV, and Cadillac LYRIQ. The joint venture, majority-owned by POSCO Chemical, plans to create approximately 200 jobs, contributing to Canada's growing EV sector. GM aims to have the capacity to build 1 million electric vehicles in North America by the end of 2025, with a focus on sustainably sourced components. The Bécancour site will process CAM, a critical battery material comprising processed nickel, lithium, and other components representing about 40% of a battery cell's cost. This initiative aligns with Canada's commitment to reducing greenhouse gas emissions, supporting GM's vision of a secure and sustainable EV ecosystem in North America. GM has undertaken various projects to establish a resilient EV supply chain, collaborating on key materials like lithium, rare earth materials, alloy flakes, and permanent magnets with different partners, including Controlled Thermal Resources (CTR), GE, MP Materials, and VAC.
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