This image provided by SK On shows the cathode manufacturing plant to be built by SK On, EcoProBM and Ford Motor Co. in Quebec, Canada, with a goal to start production in the first half of 2026.
SEOUL, Aug. 18 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it will invest in a C$1.2 billion (US$886 million) Canadian cathode plant along with Ford Motor Co. and Korean cathode material company EcoPro BM to secure a stable supply of the key battery material in North America.
SK On, EcoPro BM and Ford Motor will invest a total of C$1.2 billion in the cathode manufacturing facility in Quebec, with an aim to start production in the first half of 2026, SK On said in a statement.
The company did not provide the breakdown of the three firms’ joint investment in Canada.
EcoPro CAM Canada, established by EcoProBM in February, will manufacture cathode active materials (CAM), and CAMs will be delivered to SK On’s EV battery plant being built under the joint venture with Ford in Tennessee with a goal to begin operations in 2025.
SK On batteries will be used in Ford’s future EVs, a company spokesperson said.
CAM is high quality nickel cobalt manganese (NCM) for rechargeable batteries that are targeting greater performance levels and improved EV driving range compared to existing products.
SK On, the battery unit of Korea’s refinery-to-semiconductor conglomerate SK Group, currently operates two EV battery plants in North America and is adding four more plants, including the Tennessee plant, with its partners.
The company has been actively developing its battery supply chain in North America where demand for EVs is growing fast.
Its annual output capacity in the region is expected to reach over 180 GWh after 2025, which is enough to power about 1.7 million EVs a year.
(Yonhap)
