FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/
(Reuters) -General Motors Co and South Korea's POSCO Chemical will build a $400 million facility to produce battery materials in Canada as the carmaker ramps up plans to produce mainly electric vehicles (EVs) in the future, the companies said on Monday.
The plant will produce cathode active material (CAM) for vehicle batteries in Becancour, Quebec. Cathodes are the most complex and costly chemical component of an electric vehicle battery.
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