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Energy Storage

Umicore to build $1.2 billion battery material plant in Canada

by Matt Blois
July 23, 2022 | A version of this story appeared in Volume 100, Issue 26
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Umicore plans to build a $1.2 billion factory in Ontario that makes battery cathode materials and their precursors. The Belgian company says the facility, slated to open in 2025, will produce enough material for 1 million electric vehicles. Umicore says it hopes to build a complete battery supply chain in North America, including battery recycling. In March, BASF and a GM–Posco Chemical joint venture also announced plans to build cathode material factories in Canada.

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