June 4, 2023
General Motors and South Korea’s Posco Future M said they will invest more to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over US$1 billion.
The companies said on June 2 the new investment in their Ultium CAM plant, expected to start operating in 2025, will be used to set up additional facilities for local on-site processing of critical minerals used in electric vehicle (EV) batteries.
The announcement comes less than a week after the two initially said it would be a C$600-million facility in Becancour, Que.…