Canada will be investing $644 million in a new battery materials production plant to be built in Becancour, Que., by automaker Ford Motor Co. and South Korean companies EcoProBM and SK On Co.
The federal government and the province of Quebec will each provide conditional loans of $322 million to build the plant, which is valued at more than $1.2 billion and is expected to create over 345 jobs, the federal government said in a press release on Aug. 17.
Fun fact!
Direct fed aid to electric carmakers now up to $32B, twice the annual output of the entire Canadian auto industry. "Remarkable," said @FP_Champagne. https://t.co/EZxEGfjyTi #cdnpoli pic.twitter.com/Y8zIKmgfFn
— Blacklock's Reporter (@mindingottawa) August 18, 2023
