The federal government and the Province of Québec are funding millions for the creation of a new Ford electric vehicle (EV) plant in Bécancour, Québec.
A consortium created by Ford Motor Company and South Korea’s EcoProBM and SK On will build the facility. Valued at $1.2 billion, the project will create 345 jobs.
The plant will open in 2026 and create about 45,000 tonnes of cathode active materials, which are used in the product of EV batteries, every year. The batteries will support Ford’s future fleet of EVs.
“Today, we are strengthening Québec’s key position in the electric vehicle supply chain, while continuing to build Canada’s battery ecosystem,” François-Philippe Champagne, Canada’s Innovation Minister, said. “This investment is good for the environment and for the economy, and it will help maintain well-paying jobs for years to come.”
The federal government is contributing $322 million through the Strategic Innovation Fund. The Government of Québec is providing the same amount through Investissement Québec.
The news builds on the recent growth of EV plants, including from Stellantis and LG Energy Solution, that are coming to Canada.
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