Operation in 2026... Annual Production of 45,000 Tons
'Cathode Material-Battery-Electric Vehicle' Value Chain Establishment
SK On, automaker Ford, and cathode material producer EcoPro BM are establishing a battery cathode material plant in Canada.
On the 17th (local time), SK On, Ford, and EcoPro BM officially announced the construction of a cathode material plant in Becancour City, Quebec, Canada. The announcement ceremony was attended by about 150 people, including Sung Min-seok, SK On CCO (Chief Commercial Officer), Lisa Drake, Ford Vice President of EV Industrialization, Joo Jae-hwan, CEO of EcoPro BM, Fran?ois-Philippe Champagne, Canadian Minister of Innovation, Science and Economic Development, Fran?ois Legault, Premier of Quebec, and Im Woong-soon, South Korean Ambassador to Canada.
The three companies will jointly invest a total of 1.2 billion Canadian dollars (approximately 1.2 trillion KRW) to build a joint factory on a 278,000㎡ site within the Becancour City industrial complex.
The joint plant, with an annual production capacity of 45,000 tons, is scheduled to begin operations in the first half of 2026. The local corporation 'EcoPro CAM Canada,' established by EcoPro BM in February, will operate the plant, while SK On and Ford will invest as shareholders.
The Canadian federal government and the Quebec provincial government have pledged financial support totaling 644 million Canadian dollars (approximately 640 billion KRW). This investment is expected to accelerate the development of domestic eco-friendly industries and the establishment of battery supply chains.
Sung Min-seok, CCO (Chief Commercial Officer) of SK On, is giving a speech at the announcement event for the establishment of the SK On-Ford-Ecopro BM cathode material joint factory, held on the 17th (local time) at a hotel in Valcartier, Quebec, Canada.
After signing a letter of intent (LOI) for cathode material production facility investment in July last year, the three companies have been discussing various matters related to the plant construction. They have established a value chain in North America that connects materials (cathode materials), components (batteries), and finished products (electric vehicles), securing stable supply and price competitiveness of key battery materials.
Currently, SK On produces NCM9 (Nickel-Cobalt-Manganese) batteries using cathode materials supplied by EcoPro BM, and Ford installs these batteries in its large electric pickup truck, the F-150 Lightning.
This investment is also expected to facilitate compliance with the U.S. Inflation Reduction Act (IRA). As Canada is a free trade agreement (FTA) partner with the U.S., cathode materials produced here meet the IRA's critical mineral subsidy requirements.
SK On currently operates two battery plants in North America and plans to add four more through joint ventures with automaker partners. Once completed, SK On's annual battery production capacity in North America will exceed 180 GWh, enough to supply batteries for more than 1.7 million electric vehicles.
On the 17th (local time), representatives from SK On, Ford, and EcoPro BM, along with Canadian government officials, are posing for a commemorative photo at the site of the anode material factory construction within the Becancour Industrial Park in Quebec, Canada.
Sung Min-seok, SK On CCO, said, "Through this joint plant, we have established a stable supply chain for key battery materials in North America," adding, "The three companies will continue to strengthen their partnership to lead the electrification of the global automotive market."
Beb Goodman, CEO of Ford Canada, said, "We are pleased to create a vertically integrated battery supply chain in North America," and added, "We hope this plant will make electric vehicles more accessible to many people in the future."
Aerial view of the anode material factory in Becancour City, Quebec Province, Canada, operated by SK On, Ford, and EcoPro BM
Joo Jae-hwan, CEO of EcoPro BM, stated, "Following Hungary, building a plant in Canada provides us with an opportunity to become a truly global advanced cathode material company," and added, "We will contribute to the Canadian and Quebec communities and support local economic development through local hiring and other initiatives."
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