14:05:14 EDT Mon 29 Apr 2024
Enter Symbol
or Name
USA
CA



Allkem Ltd
Symbol AKE
Shares Issued 637,525,586
Close 2023-08-17 C$ 11.60
Market Cap C$ 7,395,296,798
Recent Sedar Documents

Globe says Allkem sees Ford commit to Quebec EV plant

2023-08-18 08:23 ET - In the News

The Globe and Mail reports in its Friday edition that Ford Motor and two South Korean industrials are making Quebec a key jurisdiction in their North American electric-vehicle manufacturing strategies, committing Thursday to building a $1.2-billion battery parts factory, backed by $644-million in government funding. The Globe's Andrew Willis writes that Ford, EcoProBM and SK ON Co. announced plans to build a cathode manufacturing facility in Becancour, Que., a city that has emerged as an EV supply chain hub. The factory is expected to open in 2026, with the capacity to make components for batteries in 45,000 Ford vehicles each year. The federal and Quebec governments each committed $322-million to the project. GM, South Korea's Posco Holdings and Germany's BASF SE have also announced plans to invest in Becancour battery plants as part of a strategy to shorten EV supply chains. China-based manufacturers currently dominate production of batteries and their raw materials. Quebec is also home to two planned lithium mines. The Nemaska property, owned by Livent Corp. and Investissement Québec, is expected to begin producing in 2024, while a project near James Bay owned by Australia's Allkem is scheduled to open in 2026.

© 2024 Canjex Publishing Ltd. All rights reserved.