Ford and its partners choose Canada for $900M battery materials plant.

By Steve Scherer

OTTAWA (Reuters) – A⁢ consortium of Ford Motor Co​ and South Korean companies on Thursday said they would build a C$1.2 billion ($887 million) plant to produce electric vehicle (EVs) battery materials in Becancour, Quebec, which is seeking to become an EV-supply-chain hub, Canada’s industry ministry said.

The consortium ⁢includes South Korean partners EcoPro BM and SK On Co Ltd, according to the statement. The factory will eventually produce 45,000 tonnes ⁢of cathode active materials (CAM) per year for Ford EVs.

Canada’s federal government will provide the consortium‍ with ‍a conditional ​loan of C$322 million and Quebec will offer the same amount as a partially forgivable loan, the statement said.​ Construction is expected to start in the first half of 2026 and the plant will create more than 345 jobs. ‍

This is the latest in a series of construction announcements for Becancour, a town of fewer than 15,000 people⁤ on the St. Lawrence River, which is ‍shaping up to be an EV-supply-chain hub in North America.

Canada, home⁤ to a large mining sector for minerals including lithium, nickel and cobalt, is trying to woo companies involved in all⁢ levels of the EV supply chain ​via a multibillion-dollar green technology fund as the world seeks to cut carbon emissions.

“This is a big vote of ⁤confidence in⁤ the (EV) ecosystem we’ve been building,” Industry Minister Francois-Philippe Champagne told Reuters. “This is very significant for Quebec, because as you know the auto sector has been primarily investing in Ontario, but now we have GM,⁤ now we have Ford in Becancour.”

In May, General Motors Co and South Korea’s POSCO Future⁢ M said they would increase production capacity ⁣at a chemical battery materials facility ​whose construction was first announced last year. Germany’s BASF SE is also ⁤building a battery materials factory​ there.

German automaker‍ Volkswagen and ​Stellantis, the parent of brands including Fiat and Chrysler, are building‌ multi-billion-dollar battery plants west of Quebec ​in Ontario, the heartland of Canada’s fossil-fuel-powered car industry ⁣that has historical trade and production ​links with the Detroit carmakers.

($1 = 1.3525 Canadian⁣ dollars)

(Reporting ⁣by Steve Scherer. Editing by Jane Merriman)

“Daddy” Biden and‍ John Podesta tout the Inflation ‍Reduction Act while Glenn⁢ Beck gets cancelled.

President Biden is scheduled to​ visit ⁢Maui on Monday. This comes as the death toll has tragically risen to at least 106.Hawaii State Representative,

Following the fourth indictment of‌ 45th President Donald Trump, Article III founder and president Mike Davis urges ‍House Republicans to use subpoena power to fight back.

A new Associated Press poll shows ‌63% of Republicans say they want Donald Trump to run again, which is jump form 55% ‍who said the same thing back in April.

By Zeba Siddiqui⁣ SAN FRANCISCO (Reuters) – Google-owned U.S.‌ cybersecurity firm ⁢Mandiant said on Thursday it had seen‍ increasing use of artificial…

By Josh Ye HONG KONG (Reuters) -China’s ⁢Lenovo Group on Thursday posted a worse-than-expected 24% fall in revenue for ⁤the April-June⁢ quarter,…

By ‍Josh ​Ye HONG KONG (Reuters) -China’s Lenovo Group on Thursday posted a worse-than-expected 24% fall in revenue for⁤ the April-June quarter,…

By‍ Kanishka Singh WASHINGTON (Reuters) – New York City on Wednesday banned TikTok on government-owned devices, citing security concerns, joining a number…