Quebec, Ottawa investing $644M for construction of new Ford EV plant in Bécancour
Ottawa and Quebec are investing $644 million to build a new Ford plant in the city of Bécancour to produce the materials needed for the batteries used in its electric vehicles.
The federal government will be providing $322 million to the American company through the Strategic Innovation Fund. Investissement Québec, the provincial government’s investment arm, will loan the other half. Part of that amount will be forgivable.
Estimated at over $1.2 billion, the project will create over 345 jobs. This facility, which will be located just south of Trois-Rivières about 150 kilometres east of Montreal, will be built by a consortium made up of Ford Motor Company and Korean companies EcoProBM and SK On.
The plant is due to open in 2026 and its production will be destined for Ford’s automotive assembly plants in Canada and the United States.
“It’s a big win for Canada,” said Federal Innovation Minister Francois-Philippe Champagne, in an interview.
“We’re playing a critical role in the electrification of transportation in North America.”
Ford is the second player in the automotive industry to choose Bécancour to set up a battery plant. Last year, GM announced its intention to set up shop there, and the start of production of cathode active materials (CAM) is planned for 2025.
Premier François Legault will be joined by Champagne and Quebec Economy Minister Pierre Fitzgibbon for an official announcement Thursday at 10:30 a.m. ET.
