The Financial Post reports in its Wednesday, May 31, edition that General Motors and Posco Future M have secured half of the financing for a $600-million (Canadian) electric-vehicle battery component plant in Quebec from the provincial and federal governments. A Bloomberg dispatch to the Post reports that in March, 2022, the U.S. and South Korean companies announced plans to form a joint venture dubbed Ultium Cam and build a cathode material factory in Becancour, halfway between Montreal and Quebec City. Cathodes represent about 40 per cent of the cost of a battery cell, according to General Motors. The automaker has committed to invest $35-billion (U.S.) in electric and autonomous vehicles between 2020 and 2025. The governments of Canada and Quebec will each contribute around $150-million (Canadian) to the project, which is expected to create 200 jobs. "This production will be used to manufacture batteries for GM's Ultium program, which aims to produce one million electric vehicles a year by 2025," the Quebec government said on May 29. Ford reached a deal last week to source as much as 13,000 tons of lithium hydroxide per year from Livent-backed Nemaska Lithium's future facility in Becancour, starting in 2025.