The $600-million factory, a joint project between automaker General Motors and South Korean industrial materials maker POSCO Future M, was first announced by the companies last year.
The factory will manufacture cathode-active materials, a key component of lithium-ion batteries found in electric cars, and is expected to employ around 200 people when it opens in 2025.
“We have an exceptional opportunity,” he told reporters in Bécancour. “We have Hydro-Québec, so we have clean energy. We have strategic minerals, like lithium.” “It’s win-win for Quebec,” he said, adding the jobs will lead to higher tax revenue for the province. Federal Industry Minister François-Philippe Champagne told reporters Ottawa will provide a “contribution” of up to $147 million, but he did not specify the nature of the funding.
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