General Motors (GM) and South Korean battery maker Posco Future have received half of the C $600 million (US $442 million) financing from the Canadian government of Quebec for an electric vehicle battery plant. In March 2022, General Motors and Posco Future announced plans to set up a joint venture called Ultium Cam and build an electric car battery factory in Becancour. GM has pledged to invest $35 billion in the development and manufacture of electric and self-driving cars between 2020 and 2025. (Bloomberg)