Parties
Company
Ford Motor Co.
Company
EcoProBM
Company
SK ON Co. Ltd.
Global major automaker Ford Motor and two South Korean industrial firms, SK On and EcoPro BM, agreed to invest $1.2 billion in a joint venture to build a cathode manufacturing facility to produce electric vehicle (EV) battery materials in Bécancour, Quebec. The federal government of Canada and the provincial government of Quebec both welcomed the investment in the cathode production joint venture and promised $644 million in financial aid. The cathode joint venture will have an annual production capacity of 45,000 metric tons and is expected to be operational in the first half of 2026.
Deal Type
Financing/InvestmentIndustry
EnergyTransaction
$ 1,200,000,000Deal Status
ActiveClosing Date