The facility in Bécancour, Québec, originally scheduled to be finished on Sept. 30, will see its completion date adjusted due to local conditions, the company said in a regulatory filing on Thursday. "We are currently adjusting the completion schedule due to local circumstances," POSCO Future M said.
The plant, operating under the joint venture Ultium CAM, was set to produce 30,000 tons of high-nickel cathode materials annually in its first phase, enough to supply about 220,000 electric vehicles.
While POSCO Future M cited local factors for the delay, some industry observers speculate that the current slowdown in electric vehicle demand, often referred to as the "EV chasm," may have influenced the decision to postpone the plant's completion.