Parks said Canada will play an “important role” in the company’s effort to develop a battery supply chain in North America, with the project receiving strong backing from the local, provincial and federal governments.
Producing CAM is one of the key steps in readying nickel, lithium and other key materials for use in EV batteries. The ingredients that make up CAM represent approximately 40 per cent of the cost of a battery cell, according to GM.
Posco Chemical, a subsidiary of steelmaker Posco, will lead the project as majority owner in the joint venture. Planning has been underway for months. GM announced it was working to finalize the joint venture with the chemical firm in December.
The CAM plant will return GM to Quebec after a 20-year absence. Its Sainte-Thérèse Assembly, which built the Chevrolet Camaro and Pontiac Firebird muscle cars in the Montreal suburbs closed in 2002.
GM Canada President Scott Bell said it was exciting to see Canada and Quebec take on a “key role” in the company’s emerging battery ecosystem.
“With this new processing facility in Bécancour, GM will help lead the EV battery supply chain while also launching Canada’s first full EV manufacturing plant in Ingersoll, Ont., later this year.”
Governments in Quebec and Ontario, as well as the federal government in Ottawa, have been actively courting battery processing and battery mineral mining investments as the shift to EVs accelerates.
