EcoProBM, SK On, Ford Investing In Québec; Building Cathode Plant To Solidify EV Supply Chain In North America
Portfolio Pulse from Happy Mohamed
EcoProBM, SK On, and Ford are investing C$1.2 billion to build a cathode manufacturing facility in Bécancour, Québec. The facility, which will create approximately 345 new jobs, is expected to start production in the first half of 2026. The facility will produce up to 45,000 tonnes of cathode active materials per year, which will be used in batteries for Ford's future electric vehicles. The investment is part of Ford's plan to localize key battery raw material processing in regions where it produces EVs.
August 17, 2023 | 2:41 pm
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Ford's investment in a cathode manufacturing facility in Québec is part of its plan to localize key battery raw material processing in regions where it produces EVs. This could potentially reduce costs and increase efficiency in Ford's EV production.
Ford's investment in the cathode manufacturing facility is a strategic move to secure a stable supply of key battery materials for its future EVs. This could potentially reduce costs and increase efficiency in its EV production, which could positively impact its stock price in the short term.
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