A new “EcoPro Cam Canada LP” subsidiary has been formed by South Korean company EcoPro to construct a battery cathode plant in Bécancour, Canada. Financing of the project worth around 830 million euros will be equally divided between EcoPro Cam Canada and the Quebec government. Ford and SK On are anticipated to join the project as partners later on. The production facility is set to be completed by 2026 and will produce 45,000 tons of cathode material each year which will only be used in SK On batteries and Ford vehicles.
1.4 billion euros investment in South Korea
In April 2023, EcoPro had already made an announcement regarding the commencement of construction on a cutting-edge battery cathode factory in Hungary. The project with an investment value of 900 million euros is expected to begin production in 2025 with an annual capacity of 108,000 tons. Meanwhile, EcoPro is also expanding their operations domestically. The company plans to invest 1.4 billion euros by 2028 in Pohang, South Korea. This will include the construction of advanced cathode, precursor, and battery recycling facilities.
Source:
https://www.thelec.net/news/articleView.html?idxno=4634
