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EcoPro BM partners with SK on Co. and Ford to invest $886M in a cutting-edge Canadian battery material facility, bolstering North America's EV value chain and capitalizing on US EV tax credits.
The partnership, which also marks the establishment a manufacturing joint venture named EcoPro CAM Canada LP, will see the construction of cathode materials manufacturing facilities. Spanning over an impressive 280,000 square meters (more than 3 million square feet) in Becancour, Quebec, this facility will be a crucial supplier of EV battery materials for Ford's electric vehicles.
Thursday saw the companies solidify their commitment by signing a binding contract, reinforcing their initial memorandum of understanding agreement from July last year. Once production commences in the first half of 2026, EcoPro CAM Canada LP is projected to produce up to 45,000 tons of cathode active materials yearly. These high-quality nickel-cobalt-manganese (NCM) materials will have the capacity to power a remarkable 225,000 EVs annually.
The monumental plant will be financed through a joint investment of 1.2 billion Canadian dollars ($886 million), with Canada's federal government and the Government of Quebec contributing CA$ 644 million. EcoPro BM will spearhead the plant operation, though SK on and Ford will hold equity stakes in the venture, ensuring collaborative success.
This bold initiative completes the partners' EV value chain in North America and secures a stable supply of core battery materials within the region. With this advantage, the trio will wield superior influence in terms of competitive pricing while fostering their strong market position.
As the world continues to transition towards a sustainable future, EcoPro BM, SK on, and Ford's unwavering commitment to advancing EV technology is undeniably commendable. This monumental project marks a significant step forward in the quest for environmentally friendly mobility solutions, setting the stage for a promising and vibrant EV market in North America.
Stay tuned for more exciting updates as these industry giants revolutionize the world of electric vehicles through their groundbreaking collaboration.
Photo: James Penner/Unsplash
