Canada EV battery plant gets a boost

FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS/Rebecca Cook/

BENGALURU: General Motors Co and South Korea’s POSCO Future M say they will invest more to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over US$1bil (RM4.6bil) .

The companies said the new investment in their Ultium CAM plant, expected to start operating in 2025, would be used to set up additional facilities for local on-site processing of critical minerals used in electric vehicle (EV) batteries.