Ford makes a notable investment!
With increasing focus on the electric vehicle sector, Ford recently added another investment to its portfolio.
Ford Motor Co., in collaboration with South Korean firms EcoProBM and SK On, has announced a $900 million investment for a new cathode manufacturing plant in Bécancour, Québec. This significant move is aimed at fortifying an EV battery supply chain in North America and stands out as Ford's inaugural venture in Québec. Their intent is clear: to prioritize the domestic processing of pivotal battery components.
The facility, set to kickstart production by 2026's first half, will produce up to 45,000 tonnes of cathode active materials annually. These materials, indispensable for the contemporary lithium-ion batteries prevalent in electric vehicles, will be crafted using premium-grade Nickel Cobalt Manganese (NCM) and will be overseen by the joint venture named EcoPro CAM Canada LP.
This move is emblematic of Ford's dedication to procuring materials for its imminent EV roster, inclusive of prospective pickup models. Moreover, the adoption of EcoPro’s core shell gradient (CSG) technology is expected to augment both the performance and range of these vehicles.
Ford makes a notable investment!
However, the implications of this investment aren't merely confined to Ford's business expansion. It's also a significant boon for the Québec locality. The 3 million square-foot establishment is predicted to open up nearly 345 new employment opportunities, encompassing diverse roles from engineering to sales and even student cooperative positions. Construction endeavors have already commenced, featuring a notable six-story edifice.
Québec's trajectory in the electric vehicle manufacturing domain is being keenly observed by global automakers. This is evidenced by the subsequent investment by General Motors in a similar facility within Bécancour. Such investments indisputably position the locale as a nexus for chemical battery material production.
Lisa Drake, Ford’s Vice-President of EV Industrialization, highlighted the plant's paramountcy for North America, terming it a vital "cornerstone" for the company's ambitions. The manufacturing operations at the plant will be spearheaded by EcoProBM, which will also make its own investment to mass-produce and provide the cathode materials, potentially catering to 225,000 electric vehicles on a yearly basis.
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