General Motors and Posco to set up a $400 million joint venture to build a cathode material plant in Canada

On March 8, General Motors and Posco announced on Monday that they would spend US $400 million (C $500 million) on building a battery production base in Canada.

It is reported that the joint venture plant is about to start construction and is scheduled to start production in 2025. (Becancour), which will be built in Beckenko, Quebec, Canada, is mainly responsible for producing General Motors Ultium batteries that provide positive active material (CAM), which will power electric vehicles such as the Chevrolet Silverado EV, GMC HUMMER EV and Cadillac LYRIQ.

Scott Bell, president and general manager of GM Canada, said: "positive electrodes account for about 40% of the cost of each electric vehicle battery unit, and the company plans to be able to build 1 million electric vehicles in North America by 2025."