SK On Co., Ford Motor Co. and Korean cathode material company EcoPro BM announced on Friday that they will be investing a total of C$1.2 billion (US$886 million) in a Canadian cathode plant. The three firms plan to begin production in the first half of 2026.
EcoPro CAM Canada, a company established by EcoProBM in February, will manufacture cathode active materials (CAM). These CAMs will be delivered to SK On’s EV battery plant, which is being built in partnership with Ford in Tennessee and is set to open in 2025. SK On batteries will be used in Ford’s upcoming electric vehicles.
CAMs are nickel cobalt manganese (NCM), a type of rechargeable battery that provides greater performance levels and improved EV driving range compared to existing products.
SK On, the battery unit of Korea’s SK Group, currently operates two EV battery plants in North America and is constructing four more, including the Tennessee plant. The company is working to build up its battery supply chain in North America, where demand for EVs is increasing rapidly. Its annual output capacity in the region is expected to reach over 180 GWh after 2025, enough to power around 1.7 million EVs annually.
This image provided by SK On shows the cathode manufacturing plant to be built by SK On, EcoProBM and Ford Motor Co. in Quebec, Canada, with a goal to start production in the first half of 2026. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
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