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factory","ford-ecopro-and-sk-on-turn-to-canadas-ev-battery-hub-for-cathode-factory","article/ford-ecopro-and-sk-on-turn-to-canadas-ev-battery-hub-for-cathode-factory",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":776,"featured":50,"reporter":777,"_editable":781,"component":782,"seo_title":543,"categories":783,"visibility":789,"author_company":49,"featured_image":790,"seo_description":776,"author_full_name":49,"author_job_title":49,"formattedDate":794,"formattedArticleDate":795},"ef27f633-7454-411a-a1da-f01c57279b9d","2023-08-23 00:00",[550,553,556],{"slug":551,"name":552},"canada","Canada",{"slug":554,"name":555},"north-america","North America",{"slug":557,"name":558},"usa","USA",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,579,584,599,604,609,614,619,624,645,654,659,672,677,690,695,700,705,710,722,727,732,737,742,747,760,771],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576],{"text":577,"type":578},"Ford and its South Korean battery partner SK On and cathode maker EcoProBM have announced plans to invest C$1.2 billion (US $885 million) in a cathode plant in Becancour, Quebec, the latest investment into the city’s battery supply chain. ","text",{"type":573,"attrs":580,"content":581},{"textAlign":49},[582],{"text":583,"type":578},"The investment in the Canadian city is part of the automaker’s effort to localise its critical battery raw material supply chain for electric vehicles in North America.",{"type":573,"attrs":585,"content":586},{"textAlign":49},[587,589,597],{"text":588,"type":578},"Benchmark forecasts that by 2030, Becancour will account for 28% of North America’s cathode production, which is set to exceed 500,000 tonnes, according to ",{"text":590,"type":578,"marks":591},"Benchmark’s Cathode Forecast",[592],{"type":593,"attrs":594},"link",{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/forecasts/cathode/","url",{"text":598,"type":578},". ",{"type":573,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":578},"The consortium’s factory is expected to begin production in the first half of 2026 to produce and supply up to 45,000 tonnes of cathode annually, enough to make 225,000 electric vehicles a year, according to Ford.",{"type":573,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":578},"“The key takeaway is the commitment to Becancour as a battery hub, from Ford’s perspective and also from EcoPro’s and SK On’s with respect to cathode production at the location,” said Rob Burrell, an analyst at Benchmark.",{"type":573,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":578},"“It is a big, but a necessary move for Ford to meet their EV ambitions in North America. Ford has apparently been struggling to produce enough electric vehicles recently and a shortage of cathode active material (CAM) supply will only hinder its operations in future, so this is a vital move to solidify its intent and show a forward-looking approach to CAM supply,” Burrell said. ",{"type":573,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":578},"Ford said in July it now expects to reach the target of producing 600,000 electric vehicles annually by 2024 instead of by the end of this year as it had previously estimated. Ford also expects its electric vehicle business to report an EBIT loss of $4.5 billion this year citing pricing environment, investment in new products and capacity, and other costs.",{"type":573,"attrs":620,"content":621},{"textAlign":49},[622],{"text":623,"type":578},"“This Becancour facility is clearly an important step, but more must be done if Ford wants a complete domestic supply chain to take advantage of additional tax credits in the future,” said Burrell.",{"type":573,"attrs":625,"content":626},{"textAlign":49},[627,629,635,637,643],{"text":628,"type":578},"Ford and SK On ",{"text":630,"type":578,"marks":631},"are building three gigafactories",[632],{"type":593,"attrs":633},{"href":634,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/fords-battery-jv-gets-9-2-billion-conditional-doe-loan-in-boost-to-us-battery-manufacturing",{"text":636,"type":578}," in Kentucky and Tennessee with over 120 gigawatt hours (GWh) of capacity in the pipeline, data from ",{"text":638,"type":578,"marks":639},"Benchmark’s Gigafactory Assessment",[640],{"type":593,"attrs":641},{"href":642,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/",{"text":644,"type":578}," shows.",{"type":573,"attrs":646,"content":647},{"textAlign":49},[648],{"type":649,"attrs":650},"image",{"id":49,"alt":651,"src":652,"title":49,"source":49,"copyright":49,"meta_data":653},"","https://a.storyblok.com/f/287943243085208/529ae69230/bm-cathode-production-chart-rc-1.png",{},{"type":573,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":578},"Why Becancour?",{"type":573,"attrs":660,"content":661},{"textAlign":49},[662,664,670],{"text":663,"type":578},"Ford’s move follows a number of similar previous investment announcements in Becancour as US automakers look to keep up with rivals and meet their electric vehicle ambitions. These include ",{"text":665,"type":578,"marks":666},"General Motors’ partnership with Posco",[667],{"type":593,"attrs":668},{"href":669,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/gm-steps-up-us-battery-supply-chain-plans-with-posco-cathode-agreement",{"text":671,"type":578}," that was announced last year to set up a cathode plant in Becancour. ",{"type":573,"attrs":673,"content":674},{"textAlign":49},[675],{"text":676,"type":578},"In June, GM said it would expand the plant with Posco and invest an additional $1 billion to produce cathode and precursor materials there. Germany’s BASF too is building a cathode plant in Becancour.",{"type":573,"attrs":678,"content":679},{"textAlign":49},[680,682,688],{"text":681,"type":578},"“A big factor is renewables – ",{"text":683,"type":578,"marks":684},"hydropower can generate",[685],{"type":593,"attrs":686},{"href":687,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/clean-energy-lures-gm-posco-and-basf-cathode-projects-to-quebec",{"text":689,"type":578}," around 95% of Quebec’s electricity needs, which is therefore a huge incentive to reduce carbon impact of production of battery materials,” said Burrell, adding that the port city also has the required transport infrastructure to support growth of the supply chain.",{"type":573,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":578},"Burrell also pointed out that the Canadian government’s support for projects is a huge advantage to get them off the ground in as short a time as possible. ",{"type":573,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":578},"South Korean players bet on North America",{"type":573,"attrs":701,"content":702},{"textAlign":49},[703],{"text":704,"type":578},"The move further strengthens US and South Korean partnership and collaborations in building out the lithium ion battery supply chain in North America. Additionally, the tax credits from the Inflation Reduction Act further incentivise and facilitate the production of cathode materials and battery cells in North America and also open more doors for operation in the region. ",{"type":573,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":578},"“Although South Korea does have a Free Trade Agreement with the US, localising production in North America shortens supply lines and integrates operations to maximise company profits,” said Burrell.",{"type":573,"attrs":711,"content":712},{"textAlign":49},[713,715,720],{"text":714,"type":578},"SK On already has a significant presence in the USA where it currently operates two battery plants and is adding four more plants with its partners Ford and Hyundai. SK On’s lithium ion battery capacity pipeline for 2030 in North America is 196 GWh according to ",{"text":638,"type":578,"marks":716},[717],{"type":593,"attrs":718},{"href":719,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/capacities/",{"text":721,"type":578},".",{"type":573,"attrs":723,"content":724},{"textAlign":49},[725],{"text":726,"type":578},"“Through the cathode JV, the three companies can have a stable supply of battery raw materials in North America,” said  SK On Chief Commercial Officer Min-suk Sung. ",{"type":573,"attrs":728,"content":729},{"textAlign":49},[730],{"text":731,"type":578},"For EcoProBM, this is its second overseas expansion after Hungary and marks a foray into North America. ",{"type":573,"attrs":733,"content":734},{"textAlign":49},[735],{"text":736,"type":578},"NCM to flow out of Quebec",{"type":573,"attrs":738,"content":739},{"textAlign":49},[740],{"text":741,"type":578},"Ford had moved early on lithium iron phosphate (LFP) chemistry in the US to tap the cost advantage. The latest partnership will however focus on EcoPro producing high nickel NCM (nickel, cobalt, manganese) cathodes to tap greater performance levels and range.",{"type":573,"attrs":743,"content":744},{"textAlign":49},[745],{"text":746,"type":578},"“Another key takeaway is the high nickel investment – it is clear that Ford has recently pushed for LFP for more entry models, but it’s evident that high nickel cells destined for models such as the F150 are vital for applications that demand the performance specs,” said Burrell.",{"type":573,"attrs":748,"content":749},{"textAlign":49},[750,752,758],{"text":751,"type":578},"A key driver behind NCM investment and buildout in the west is that vehicles with NCM cells can achieve longer ranges which are attractive to consumers, particularly in North America. However, LFP unlocks lower vehicle prices for the masses, and as seen with ",{"text":753,"type":578,"marks":754},"CATL’s recent announcement",[755],{"type":593,"attrs":756},{"href":757,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/article/catls-faster-charging-battery-could-boost-uptake-of-lfp-cells",{"text":759,"type":578},", the chemistry can achieve impressive performance specs.",{"type":573,"attrs":761,"content":762},{"textAlign":49},[763,765,770],{"text":764,"type":578},"LFP chemistries are expected to meet nearly 40% of EV battery demand this year while a mix of mid- and high-nickel NCM cells will comprise the rest of the share, according to ",{"text":590,"type":578,"marks":766},[767],{"type":593,"attrs":768},{"href":769,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/forecasts/cathode/reports/",{"text":721,"type":578},{"type":573,"attrs":772,"content":773},{"textAlign":49},[774],{"text":775,"type":578},"Last week, GM led a $60 million funding in US-based battery materials company Mitra Chem. Together they will work on developing iron based cathode chemistries such as LMFP for GM’s electric vehicles.","Ford and its South Korean battery partner SK On and cathode maker EcoProBM have announced plans to invest C$1.2 billion (US $885 million) in a cathode plant in Becancour, Quebec, the latest investment into the city’s battery supply chain. The investment in the Canadian city is part of the automaker’s effort to localise its critical […]",[778],{"slug":561,"name":562,"content":779},{"job_title":564,"image":780,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"ef27f633-7454-411a-a1da-f01c57279b9d\", \"id\": \"\"}-->","article",[784,787],{"slug":785,"name":786},"batteries","Batteries",{"slug":788,"name":298},"cathode","private",{"id":49,"alt":651,"name":651,"focus":651,"title":651,"source":651,"filename":791,"copyright":651,"fieldtype":792,"meta_data":793,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/52b0acdc79/bm-ford-quebec-z832125.jpg","asset",{"alt":651,"title":651,"source":651,"copyright":651},"Aug 23, 2023","23rd August 2023",[],[],1780670072513]