The $600-million factory, a joint project between automaker General Motors and South Korean industrial materials maker POSCO Future M, was first announced by the companies last year.
The factory will manufacture cathode-active materials, a key component of lithium-ion batteries found in electric cars, and is expected to employ around 200 people when it opens in 2025.
He says the project is part of a larger green energy transition corridor that includes Bécancour and the nearby cities of Trois-Rivières and Shawinigan, which are home to a number of companies and research institutions doing work related to electric vehicles.
Federal Industry Minister François-Philippe Champagne told reporters the federal government will provide a “contribution” of up to $147 million, but did not specify the nature of the funding.