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.
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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cleveland nonprofit helps educators hold on to their hard-earned moneyWhen it's all said and done, on average, parents will spend nearly $900 before their children even step foot in a classroom.
Read more »
Bryan Ford sweetens up summer with tres leches Funfetti cake and strawberry shortcakesBryan Ford takes it back to childhood with these nostalgic summer treats.
Read more »
Security guard charged with murder outside Ford Heights clubMichael Long, of Chicago, a private security guard at a Ford Heights club, has been charged with first-degree murder in the shooting death of a 29-year-old Texas man outside Atlantis Gentlemen's Club.
Read more »
Our 2022 Ford Bronco Badlands Sasquatch Gets Some FlairNew fog lights and A-pillar lights dress up our Bronco nicely.
Read more »
Harrison Ford Inspires Name for New ‘Terrifying’ Species of SnakeHarrison Ford inspired scientists to name a new species of snake called Tachymenoides harrisonfordi after the actor
Read more »
Harrison Ford Reacts to Having a Snake Named After HimThe Indiana Jones and the Dial of Destiny star was a natural choice for scientists when naming a newly discovered type of snake.
Read more »