Photo = POSCO FutureM

 

[Alpha Biz= Reporter Kim Jisun] POSCO Future M announced on the 26th that it is adjusting the completion timeline for its joint battery cathode plant, which is under construction in Canada with General Motors (GM).

The plant was initially scheduled for completion by September 30.

Previously, POSCO Future M had revealed plans to establish Ultium CAM, a joint venture for producing cathode materials in North America, with a first-phase production capacity of 30,000 tons of high-nickel cathodes at its Bécancour facility, enough to supply around 220,000 electric vehicles.

In its announcement, POSCO Future M cited various local factors for the delay in construction progress. Industry experts speculate that the "EV chasm" (a temporary stagnation in demand) may have also affected the Canadian joint venture.

 

 

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