News article…. Ottawa and Quebec are investing $644 million to build a new Ford plant in the city of Bcancour to produce the materials needed for the batteries used in its electric vehicles.
The federal government will be providing $322 million to the American company through the Strategic Innovation Fund. Investissement Qubec, the provincial government's investment arm, will loan the other half. Part of that amount will be forgivable.
Estimated at over $1.2 billion, the project will create over 345 jobs. This facility, which will be located just south of Trois-Rivires about 150 kilometres east of Montreal, will be built by a consortium made up of Ford Motor Company and Korean companies EcoProBM and SK On.
Quebec Premier Franois Legault made the official announcement Thursday morning with politicians from all levels of government, as well as dignitaries and business leaders from the U.S. and South Korea.
He lauded Ford's decision to build its plant in the small central Quebec city, which is seeking to become an EV-supply-chain hub.
"We've come here today to show … that we're now capable of attracting big players like Ford. And for me, that's a source of great pride. It confirms that Quebec is truly positioning itself as a world leader in the green economy," Legault said.
'Big win for Canada'
The plant, due to open in 2026, will eventually produce 45,000 tonnes of cathode active materials (CAM) per year for future Ford EVs, especially trucks. Its production will be destined for Ford's automotive assembly plants in Canada and the United States.
"It's a big win for Canada," said Federal Innovation Minister Franois-Philippe Champagne in an interview.
"We're playing a critical role in the electrification of transportation in North America."
At Thursday's news conference, Champagne said that just a year ago, Quebec would not be considered a big player in fields like batteries, the environment or electric vehicles.
"But today, we're talking about Quebec," he said. "Behind what you see today is a region that is emerging, a region that is positioning itself in the automotive ecosystem."
GM and POSCO to build plant in Quebec to produce battery material
Quebec Economy Minister Pierre Fitzgibbon said this latest investment will help the province achieve carbon neutrality by 2050.
"It's optimistic, it's ambitious but with these new, strong corporate links … I strongly believe that it's doable and that we're quickly moving in the right direction," he said.
Ford is the second player in the automotive industry to choose Bcancour to set up a battery plant. Last year, GM announced its intention to set up shop there, and the start of its production of CAM is planned for 2025