The governments of Quebec and Ottawa confirm the granting of $644 million in funding for the construction of a new battery materials production plant in Bécancour.

The plant is the result of a consortium formed by Ford Motor Company and Korean companies EcoProBM and SK On. The investment is estimated at more than 1.2 billion, this project will create more than 345 jobs.

The EcoPro CAM Canada plant will produce an average of 45,000 tons of active cathode materials per year. The production will be intended for the manufacture of batteries for future electric vehicles from Ford. The plant is expected to be operational in 2026.

Quebec grants, through Investissement Quebec, a partially forgivable loan of $322 million, and the Government of Canada makes a conditional contribution of $322 million, through the Strategic Innovation Fund.

“I am very proud that Quebec is attracting big players of the caliber of Ford-EcoProBM-SK On. After GM-Posco this spring, we are announcing a major new investment of $1.2 billion in the Energy Transition Valley for the construction of an active cathode materials plant in Bécancour,” said François Legault, Premier of Quebec. , in a press release.

“Today, we are reinforcing Quebec’s key place in the electric vehicle supply chain as we continue to build our battery ecosystem,” said François-Philippe Champagne, Canada’s Minister of Innovation, of Science and Industry

“Ford has served customers in Canada for 119 years, longer than any other automaker. We are thrilled to be able to make our first-ever investment in Quebec, with new facilities that will help shape the electric vehicle ecosystem in this province,” said Bev Goodman, President and CEO of Ford Motor Company of Canada.

EcoPro CAM Canada was incorporated in February 2023 by Korean cathode materials manufacturing company EcoProBM, automaker Ford Motor Company and Korean cellphone company SK On. SK On and Ford will become investors once the deal closes.