General Motors and POSCO plan to invest more $600 million in a new chemical battery materials facility in Becancour, Que. The joint venture is part of General Motors' plans in Canada, with the aim of having a piece of Canada in every vehicle they make.
General Motors and POSCO plan to invest more $600 million in a new chemical battery materials facility in Becancour, Que. (AP Photo/Paul Sancya, File)) $600 million joint venture to build a battery materials facility in Quebec is the “tip of the iceberg” when it comes to the Detroit automaker’s plans in Canada .
Speaking at the EV Innovation & Technology Conference 2024 event in Toronto on Tuesday, Sarah Goldfeder, director of government relations and corporate affairs for General Motors Canada said, “My dream is that every vehicle that General Motors makes has a piece of Canada in it.” General Motors and South Korean steel-maker POSCO announced a plan in 2022 to build the new chemical battery materials facility in Becancour, Que. The companies expect to invest even more than $600 million in the project. Last May, they said construction is underway, with initial production expected in the first half of 2025. Canada’s federal government and the province of Quebec will each provide about $150 million in financial assistance. “We’ve got the investment in Quebe
General Motors POSCO Joint Venture Battery Materials Facility Quebec Investment Canada