Ford plans to build an $887 million electric vehicle battery component factory in Quebec. Collaborating with South Korean companies SK On and EcoPro BM, the facility in Becancour is slated to start operations in the first half of 2026. The plant aims to manufacture up to 45,000 tons of cathode active materials for future Ford EVs. The move comes after Ford's agreement in May to adopt Tesla's charging standard and its subsequent price reduction for electric F-150s. The Canadian government and Quebec province will contribute $476 million to the project. Ford's shares rose almost 1% in response to the announcement. The automaker's recent actions, including partnering with Tesla for charging infrastructure and lowering EV prices, highlight its push to compete in the rapidly growing EV market.
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00:00 It's Benzinga and here's what's on the block.
00:02 Ford plans to build an $887 million electric vehicle battery component factory in Quebec.
00:08 Collaborating with South Korean companies SKON and EcoProBM, the facility located in
00:13 Bekkenkor is slated to start operations in the first half of 2026.
00:18 The plant aims to manufacture up to 45,000 tons of cathode-active materials for future
00:23 Ford EVs.
00:25 The move comes after Ford's agreement in May to adopt Tesla's charging standard and its
00:29 subsequent price reduction for electric F-150s.
00:33 The Canadian government and Quebec province will jointly contribute $476 million to the
00:38 project.
00:39 Ford shares rose almost 1% in response to the announcement.
00:43 The automaker's recent auctions, including partnering with Tesla for charging infrastructure
00:48 and lowering EV prices, highlights its push to compete in the rapidly growing EV market.
00:52 For all things money, visit Benzinga.com!
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