Ford Motor Co. (F) is reportedly in negotiations to build a cathode material plant in Quebec with
South Korean battery cell maker SK On and battery component producer EcoPro BM.
An official announcement that Ford and its partners will spend $700 million U.S. to develop a
cathode plant in Becancour, Quebec could come within weeks, according to media reports.
The investment in Becancour, which is northeast of Montreal, would be the latest by large
automotive companies in Quebec, where the government is offering subsidies and incentives to
make the province an electric vehicle battery hub.
Detroit-based Ford and its partners have agreed to invest in a North American production facility
with construction expected to start next year.
The cathode plant would supply batteries for a joint venture between SK On and Ford in
Tennessee and Kentucky.
Canadian media reports quote Quebec government representatives confirming that they have
held discussions with EcoPro BM and Ford on the potential cathode manufacturing plant.
Ford’s stock is down 38% this year and trading at $13.51 U.S. per share.