The cathode “represents about 40% of the cost of every EV battery cell,” said Scott Bell, GM Canada’s President and Managing Director, in a news conference. “We plan to have capacity by 2025 to build a million EVs in North America.”
The plant’s construction will begin immediately and the goal is to have it running by 2025. Once completed, it will create an estimated 200 jobs, according to a statement. GM aims to produce light vehicles that run exclusively on electricity by 2035.
The CAM produced at the plant will be used to make GM’s Ultium batteries that will power the company’s EVs, such as the Chevrolet Silverado EV, GMC HUMMER EV and Cadillac LYRIQ. GM’s Ingersoll, Ontario, factory will launch EV production later this year, Bell said.
Both Canada’s federal government and Quebec’s provincial government are working with GM and POSCO Chemical, the companies said, though details were not released.
Rich in key…
