GM joint venture pauses phase 2 of Canadian battery materials plant as EV outlook dims

General Motors and partner Posco Future M have suspended the second phase of work on their joint venture battery materials plant in Quebec amid tepid consumer demand for electric vehicles and North American policy decisions that have undercut growth in the segment. The Ultium CAM plant being commissioned in Bécancour remains on track to start producing cathode active material for EV batteries next year, but the team will not immediately proceed with an expansion project, as originally planned. “In light o ...