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, a town seeking to become an EV-supply-chain hub, Canada's industry ministry said.
OTTAWA, Aug 17 (Reuters) - A consortium of Ford Motor Co (F.N) 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, a town seeking to become an EV-supply-chain hub, Canada’s industry ministry said.
Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for rechargeable batteries that are targeting greater performance and improved EV range.
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 that is shaping up to be an EV-supply-chain hub in North America.
General Motors Co (GM.N) and South Korea’s POSCO Future M in May said they would increase production capacity at a chemical battery materials facility whose construction was first announced last year.
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.
German automaker Volkswagen (VOWG_p.DE) and Stellantis (STLAM.MI), the parent of brands including Fiat and Chrysler, are building multibillion-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.
This is the best summary I could come up with:
OTTAWA, Aug 17 (Reuters) - A consortium of Ford Motor Co (F.N) 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, a town seeking to become an EV-supply-chain hub, Canada’s industry ministry said.
Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for rechargeable batteries that are targeting greater performance and improved EV range.
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 that is shaping up to be an EV-supply-chain hub in North America.
General Motors Co (GM.N) and South Korea’s POSCO Future M in May said they would increase production capacity at a chemical battery materials facility whose construction was first announced last year.
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.
German automaker Volkswagen (VOWG_p.DE) and Stellantis (STLAM.MI), the parent of brands including Fiat and Chrysler, are building multibillion-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.
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