Ford Rival GM Pushes Back Joint Venture EV Plant To 2026

For some time, automakers were investing heavily in electric vehicles, batteries, and plants that build those types of things, but softening demand for EVs has since prompted most to scale back those investments and plans. Ford isn’t immune to this, as The Blue Oval has pulled out of certain joint-venture deals while delaying the launch of the next-generation Ford F-150 EV and canceling a pair of all-electric three-row crossovers. Now, Ford’s cross-town rival General Motors (GM) is delaying a joint-venture EV plant, too.

According to GM Authority, The General is opting to delay the opening of the under-construction Ultium CAM (Cathode Active Materials) plant in Quebec, Canada, from the first half of this year to early 2026. The new facility is being constructed as part of a joint-venture agreement with Posco Future M, a Korean battery materials and chemicals company. The Ultium plant was originally announced back in March 2022, and is expected to produce cathode active materials for future GM EVs when it eventually opens.

“Construction and commissioning of the Ultium CAM facility, GM’s joint venture with POSCO Future M, is progressing, with production expected to begin in early 2026,” a GM spokesperson confirmed. However, this isn’t the first time that same facility has faced delays – in fact, production was originally expected to debut in early 2025 when construction began in 2023, but was later pushed back a few months. Thus far, the joint-venture has received $300 million CAD in government loans, covering around half of the estimated cost of construction.

This news comes not only on the heels of waning demand for EVs in general, but also, GM’s decision to sell its stake in the Ultium Cells LLC battery plant in Lansing, Michigan, to its joint venture partner LG Energy Solution this past December. GM expects to completely recoup its investment in that site when the deal closes, leaving LG as the sole owner of the new facility.