Major support for the development of the Quebec battery industry 

Bécancour – The Government of Quebec is granting, through Investissement Québec, a loan of $151.87 million to Ultium CAM, a limited partnership of General Motors (GM) and POSCO Future M, for the construction of a battery materials production plant in Bécancour, in the Centre-du-Québec region. Estimated at more than $600 million, this project will create 200 jobs in the region.

The Premier of Québec, Mr. François Legault, made the announcement today, along with the Minister of Economy, Innovation and Energy, Minister responsible for Regional Economic Development and Minister responsible for the Metropolis and the Montreal region, Mr. Pierre Fitzgibbon, and the MNA for Nicolet-Bécancour and Parliamentary Assistant to the Minister of the Economy, Innovation and Energy (zones of innovation component), Mr. Donald Martell.

Various components are used in the manufacture of lithium ion batteries, including cells equipped with anodes and cathodes. The Ultium CAM plant will specialize in the production of cathode active materials (composed of lithium, nickel, cobalt and manganese). This production will be used to manufacture the batteries that will be part of GM’s Ultium program, which aims to produce one million electric vehicles per year from 2025.

The start-up of the plant, scheduled for 2025, will consolidate Quebec’s position as a major player in the battery industry in North America. The Ultium CAM plant will be located on the territory of the new Energy Transition Valley innovation zone, the creation of which was announced today and which will allow the sector to create an entire ecosystem around decarbonization.

“I am really proud that GM and POSCO Future M are coming to settle with us, in Bécancour. It is the first pillar of our Energy Transition Valley and an exceptional starting point in the battery sector, which sends the signal that Quebec is innovating in the green economy. I am convinced that with the production and innovations that will be done here, we will contribute to reducing GHG emissions in Quebec, but also internationally.” – François Legault, Premier of Quebec

“The battery industry in Quebec is really launched?! This investment by GM and POSCO Future M is historic. Thanks to its natural resources, talents and renewable energy, Quebec is attracting giants in electrification. We will make other structuring announcements shortly. This is where we will manufacture the greenest battery components in the world?!” – Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for Greater Montréal and the Montreal Region

“A real battery ecosystem, in which major companies like Ultium CAM participate, is emerging in Quebec. The upcoming plant in Bécancour marks an important step for the future of this strategic sector, and I am very proud that our government is supporting its establishment in the region.” – Donald Martel, MNA for Nicolet-Bécancour and Parliamentary Assistant to the Minister of Economy, Innovation and Energy (Innovation Zones component)

“Investissement Québec is pleased to see a flagship project such as Ultium CAM come to fruition, which consolidates Bécancour’s place of choice in the battery sector that we are committed to building in Québec. This announcement confirms our position as the world’s leading supplier of components and minerals used in the manufacture of lithium ion batteries, in addition to promoting greener and more sustainable economic development.” – Guy LeBlanc, President and CEO of Investissement Québec

“We thank Premier François Legault and Ministers Pierre Fitzgibbon and François-Philippe Champagne for their outstanding leadership in supporting our efforts to build a safe, sustainable, scalable and competitive electric vehicle supply chain to support our rapidly growing electric vehicle production in North America. At GM Canada, we are especially proud to be back in Quebec to increase investment and jobs, in line with the province’s vision for the future of transportation.” – Marissa West, President and CEO of GM Canada

“Our investment in Bécancour production is an important step in building a more secure and resilient North American-focused supply chain to meet GM’s growing electric vehicle production needs. site offers room for growth for the joint venture and its partners. GM began by establishing battery cell production in the United States. From there, we worked on the entire battery supply chain, up to the recovery of raw materials. We are establishing higher levels of vertical integration, spurring increased investment and helping to create jobs across North America.” – Sham Kunjur, Executive Director of GM EV Raw Materials’ Center of Excellence

“Our project was on schedule thanks to our excellent local construction and engineering partners. We will soon begin hiring and training permanent employees for our operations, which will begin in 2025.” – CG Cha, President of Ultium CAM