The Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry, the Honourable François Legault, Premier of Quebec, and the Honourable Pierre Fitzgibbon, Minister of Economy, Innovation, and Energy of Quebec, made an announcement on May 29 that they would support the latest cathode active materials (CAM) facility to be operational in Canada. This facility will be built in Bécancour, Quebec, by a joint venture between General Motors (GM) and
Components like processed nickel, lithium, and other materials make up about 40% of CAM, which are essential battery materials. To support the more than $600-million project of GM-POSCO, the federal government is making investments through the Net Zero Accelerator initiative of the Strategic Innovation Fund.
Ultium CAM, a joint venture between GM and POSCO, will result in the creation of approximately 200 jobs and long-term stability for Canada’s economy and ecosystem for electric vehicles (EVs).
The government has attracted significant anchor investments in the processing of battery material and cell manufacturing since the beginning of 2022. In addition to supporting Canada’s transition to a net-zero economy, these investments are also promoting automotive industry expansion, establishing Canada as a global leader in the EV supply chain, and creating highly skilled jobs across the country.