The announcement on Monday, which is expected to create 200 jobs, follows another announcement made a few days ago in the battery sector. The German chemical giant BASF has indicated that it has entered into an agreement to acquire land in the industrial and port park in Beaconcore to set up another factory for the manufacture of cathodes and materials for battery recycling.
GM’s facilities, in partnership with South Korea’s POSCO Chemical, will power electric vehicles such as the Chevrolet Silverado EV, GMC Hummer EX and Cadillac LYRIQ for three years.
According to the American auto giant, construction of the site will leave room for future expansion as GM pursues several potential projects related to the supply chain of electric vehicles.
Loans are expected from Ottawa and Quebec
The governments of Canada and Quebec financially support half the value of the project in equal parts, but only a portion of the loan terms.
Sorry Has yet to be finalized. The Minister of Federal Innovation, Science and Industries, Franకోois-Philippe Champagne, stated in the file that Quebec is in strong competition with many American states.
He told a news conference in Montreal that the battery ecosystem was evolving here. What is new and fundamental is that we are part of the supply chain of the world.
Quebec’s Minister of Economy and Innovation added that his government’s goal is to build a sector
Equivalent to the multimedia sector in the early 2000s. To do this, Pierre Fitzgerald relies on the conversion of Quebec minerals such as lithium, the connection of electric cars and the recycling of batteries, as well as the production of commercial and intelligent electric vehicles.
In 2002, GM discontinued production of its Camaro and Firebird models at the Boise Bryand Complex, losing more than 1,200 jobs. Today, the factory is replaced by a shopping center.
Fifteen years ago, two levels of government granted a total of $ 220 million in interest-free loans to modernize the plant and encourage GM to stay in Quebec.