GM Receives Local Financial Support for Electric Vehicle Battery Plant In Quebec

General Motors and South Korean battery materials maker Posco Future have secured half of the financing for a C$600 million ($442 million) electric vehicle battery materials plant from the Quebec provincial government.

In March 2022, GM and Posco Future announced plans to estabilish a joint venture called Ultium Cam and build an electric vehicle battery plant in Becancour. GM has pledged to invest $35 billion between 2020 and 2025 in research, development and manufacturing of electric and self-driving vehicles.

More popular news:

Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why

Global Aluminium Inventory to Plunge Further amid Supply Headwinds, LME Aluminium Prices to React Fast

SMM Daily Comments (May 17): Most Metals prices Rose, Ferrous Metals Jumped with Coking Coal soaring 3.29%,Oil Went Down on Surprise Inventory Growth, Poor China Economic Data and IEA Doubt on Russia Cheating on Output Cuts

Testing Agency Responds to Great Wall Motor Report on BYD to Chinese Authorities

BHP Says China's Real Estate Recovery Will Boost Metals Demand

G7 to Expand Sanctions Covering Metals on Russia, Promises Further Support for Ukraine

BYD Denies Rumours after Being Reported to Chinese Authorities, Two Top China Automakers Escalate War

Trafigura Sees Copper Prices Rising to All-Time High on China Economic Rebound and Supply Shortages

The Ban will Not Stop Exports of Key Raw Minerals Copper, Zinc, Iron Ore from Indonesia, But Bauxite Shipments will Stop in June

SMM Daily Comments (May 24): LME Base Metals Closed with Losses, All Ferrous Metals Dropped with Iron Ore Plunging, Oil Gained Ground as Goldman Sachs Sees Stubborn Shortage from June

High Lithium Ore Prices in Australia will Drive Lithium Prices Rebound, Reasons Prevent Output to Grow

A Bull Gold Market Has Just Begun 

Global Key Base Metals Face Supply Glut, Severe Oversupply for Aluminium, But There Is a Global Copper Shortage

Goldman Sachs Warns of Serious Risks US Dollar Will Lose Reserve Currency Status on Debt Ceiling Standoff

Rio Tinto Warns of Risks for Paying High Premiums for Lithium Mines after Plunging Lithium Prices Triggered Acquisition Rush

Goldman Sachs Lowers Price Forecast for Aluminium, Copper in 2023, Sees Nickel Price Plunging

'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices

Zinc Prices to Plunge by 2025, Here's Why

World Bank: Global Commodity Prices to Plunge Precipitously This Year at Fastest Speed since Covid Outbreak

Citigroup Warns European Commercial Real Estate Values Will Plummet 40%, But Sees Medium-Term Opportunity

BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023

UBS Raises China GDP Growth Forecast, Sees Earnings from China Stock Market Soaring, RMB Appreciating

Sharp Output Cuts Led to Lithium Ore Shortages, High Import Prices Drove Lithium Salt Producers to Shut Down

US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters

USGS Rejects Copper as Critical Mineral despite Huge Shortage and Biggest Producers Push, Citing Misleading Arguments

SMM Daily Comments (May 16): Most Base Metals Prices Closed with Losses, SHFE Nickel, Stainless Steel Plunge, Oil Gained on G7 New Measures, US Strategic Petroleum Reserve Replenishment and Supply Concerns

SMM Daily Comments (May 19): LME Metals Rose across the Board, All Ferrous Metals Dropped with Coking Coal Plunging