FILE PHOTO: The new GM logo is seen on the facade of General Motors’ headquarters in Detroit, Michigan, on March 16, 2021. REUTERS/Rebecca Cook/
March 7, 2022
(Reuters) – General Motors Co and South Korea’s advanced materials company POSCO Chemical will set up a plant in Canada to produce a key battery material for the US automaker, which has ramped up its electric vehicle production.
The cathode-active material (CAM) will be used to manufacture GM’s Ultium batteries that will power the company’s electric vehicles such as the Chevrolet Silverado EV, GMC HUMMER EV and Cadillac LYRIQ.
The facility, to be built in Bécancour, Quebec at an estimated $400 million, is expected to create about 200 jobs, the companies said Monday.
In December, the automaker announced plans to form a joint venture with South Korea’s POSCO to build a battery cathode materials plant in North America by 2024.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Shinjini Ganguli)
https://www.oann.com/gm-to-build-new-battery-materials-plant-in-canada/?utm_source=rss&utm_medium=rss&utm_campaign=gm-to-build-new-battery-materials-plant-in-canada GM builds new battery materials plant in Canada