Une usine Ford de cathodes de batteries de véhicules électriques verra le jour à Bécancour
Quebec and the federal government will foot the bill for over half of a new cathode factory that will supply Ford with components for its electric vehicles.
The $1.2 billion factory was announced with great enthusiasm in Bécancour on Thursday morning, and the Quebec and Ottawa governments will provide $644 million in financing in various forms.
This facility, expected to open in 2026, is seen as "crucial" by Ford, as it will supply the battery cathodes for its F-150 Lightning trucks and Mustang Mach-E vehicles.
The Prime Minister, François Legault, has stated that the effects will exceed the public funding allocated by governments, but refrained from providing specific figures.
"I have no intention of giving any freebies to any company," he declared. "It has to be a quid pro quo. If I give $1, I must make more than $1 in return."
He, who had criticized the government funding and investment in Bombardier's Series C when he was in opposition, refused to draw a comparison, despite the fact that the governments have no ownership stake in the factory they are partially funding.
On his side, the Minister of Economy, Pierre Fitzgibbon, suggested, however, that the governments will see various benefits pay off in less than 10 years.
Québec is providing 322 million dollars in funding, just like Ottawa. Out of this amount, 194 million dollars will not need to be reimbursed by the company. These funds mainly consist of tax credits, as explained by Mr. Fitzgibbon.
Ford Arrives In Quebec
The factory, which will hire 350 workers, is a collaboration between Ford and the Korean companies EcoProBM and SK On, a major cell manufacturer. The statement emphasizes, however, that there are still details to be agreed upon between the partners.
The CEO of EcoProBM, Jae-Hwan Joo, stated that the company selected Bécancour because of the workforce's skillset, government support, access to critical minerals used for battery production, reliable clean electricity supply, and convenient access to port facilities, highways, and railways.
It is estimated that the factory will produce an average of 45,000 tons of active cathode materials per year.
This is the first time that Ford is investing in Quebec. The vice president of electric model industrialization at the carmaker, Lisa Drake, pointed out that the founder, Henry Ford, had actually established his company in Canada one year after its founding 120 years ago.
"Henry, we're in Quebec today," she exclaimed jokingly.
"We are now able to attract big players, such as Ford. For me, it is a source of great pride," François Legault stated on Thursday. This confirms that Quebec is truly establishing itself as a global leader in the green economy."
Mrs. Drake assures that the manufacturer is here to stay, as the lithium-ion battery technology, like the one that will be utilized in the Bécancour factory, is a "long-term technology."
