- Ford Motor Co. (NYSE:F) intends to build a cathode manufacturing facility in Becancour, Québec, for electric vehicle (EV) manufacturing
- The automaker formed a consortium of South Korean companies to invest C$1.2 billion to build the facility
- Production is targeted to begin in the first half of 2026, producing up to 45,000 tonnes of cathode active materials (CAM) per year
- Ford Motor Co. opened trading at US$11.83 per share
Ford Motor Co. (NYSE:F) intends to build a cathode manufacturing facility in Becancour, Québec, for electric vehicle (EV) manufacturing.
The automaker formed a consortium with SK On Co Ltd. and EcoProBM based out of South Korea to invest C$1.2 billion to build the facility.
Construction has begun on the 280,000-square-metre site, which will provide materials to supply batteries for Ford’s future EVs. Production is targeted to begin in the first half of 2026, producing up to 45,000 tonnes of cathode active materials (CAM) per year.
Canada’s Minister of Innovation, Science and Industry François-Philippe Champagne said in a statement that this move would help position Québec as a key hub in the EV supply chain.
“This investment is good for the environment and for the economy, and it will ensure well-paying jobs for years to come.”
The federal government will provide the consortium with a conditional loan of C$322 million and Québec will offer the same amount as a partially forgivable loan.
The town of Becancour on the St. Lawrence River is shaping up to be an EV-supply-chain hub in North America. The nearby Jarnet lithium project under Arbor Metals Corp. (TSXV:ABR) in the James Bay region of Québec comprises 47 map-designated claims, covering an area of approximately 37.5 square kilometres. The Jarnet project is contiguous to the Corvette-FCI property under Patriot Battery Metals Inc. (TSXV:PMET), where diamond drilling has confirmed significant lithium mineralization, and represents one of the highest-profile lithium exploration projects in the sector.
Source: Arbor Metals Corp.
Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. The company has about 12.5 per cent market share in the United States, about 6.5 per cent share in Europe, and about 2.4 per cent share in China, including unconsolidated affiliates.
Ford Motor Co. opened trading at US$11.83 per share and though its stock has moved down 1.3 per cent this week, it us up 3.0 per cent year-to-date.
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