EcoPro said on Wednesday that it will form a subsidiary EcoPro Cam Canada LP that will handle the building of a new battery cathode plant at Bécancour, Quebec, Canada.
Approximately 1.2 trillion won has been earmarked for the project, with half of the amount to be delivered by EcoPro Cam Canada LP and the rest from the Quebec government. Ford and SK On will later become shareholders of the project.
The cathode factory is expected to be completed in 2026 and produce 45,000 metric tonnes a year, which will be supplied entirely to SK On batteries and Ford vehicles.
In April, EcoPro BM started construction of its new battery cathode factory in Hungary. This project is worth 1.3 trillion won and the South Korean company is aiming to start production in 2025 with an annual capacity of 108,000 metric tonnes.
In South Korea, the company is spending 2 trillion up to 2028 at Pohang to build cathode, precursor, and battery recycling facilities.