and South Korean companies on Thursday said they would build a C$1.2 billion plant to produce electric vehicle battery materials in Becancour, Quebec, a town seeking to become an EV-supply-chain hub, Canada's industry ministry said.and SK On Co Ltd, according a statement from the ministry. The factory will eventually produce 45,000 tonnes of cathode active materials per year for Ford EVs.
"This cathode facility will supply the material that goes into Ford's future EVs in North America, specifically some of our future trucks," Lisa Drake, Ford vice president for EVs, told reporters. 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. The factory is expected to be operational in the first half of 2026, creating more than 345 jobs.