Posted on 09 Mar 2022
General Motors and Posco have settled on a site for their new $400 million cathode active material joint venture, according to a joint release.
Originally announced in December, the CAM plan will be built in Bécancour, Quebec, Canada, to supply material for GM’s Ultium battery line. The batteries will ultimately be installed in the electric versions of the Chevrolet Silverado, Hummer and Cadillac LYRIQ.
“GM and our supplier partners are creating a new, more secure and more sustainable ecosystem for EVs, built on a foundation of North American resources, technology and manufacturing expertise,” says GM executive vice president Doug Parks. “Canada is playing an important role in our all-electric future, and we are grateful for the strong support we have received from local, provincial and national officials to grow a North American-focused EV value chain.”
CAM materials make up about 40% of the total cost of a battery cell, Kallanish notes. GM is shooting for North American capacity of 1m EVs by 2025.
“We will lead the successful transition to the EV era by further strengthening the strategic partnership with GM and securing a production line with world-class technological competitiveness,” says Posco Chemical ceo Min Kyung-Zoon
Source:Kallanish
