Ultium Cam

What Ultium Cam does

Ultium CAM is a privately held joint venture between General Motors (through General Motors Battery Raw Materials Canada Inc.) and POSCO FUTURE M (through POSCO Future Materials Canada Inc.), established in 2021 and headquartered in Bécancour, Quebec, Canada. The company specializes in producing nickel-rich NCM (Nickel, Cobalt, Manganese) cathode active materials — specifically the NCM-8x high-nickel family at approximately 80% nickel content — for use in lithium-ion batteries serving electric vehicles and, secondarily, IT devices such as cell phones, tablets, and laptops. Its flagship product positioning emphasizes high capacity, thermal stability, and low internal resistance, enabling longer battery life and improved safety in OEM battery packs. Production is anchored at the Bécancour facility (commissioning began July 2024, with commercial production ramping from March 2025 at an initial 30,000 tons annual capacity) and supplemented by a manufacturing plant in Altamira, Mexico and a dedicated sales office in Mexico City.

The company's revenue model is a B2B enterprise sales motion: Ultium CAM produces and sells CAM under long-term supply contracts to electric vehicle manufacturers and battery producers, with General Motors as both co-founding partner and anchor offtaker via its Ultium battery program. Pricing is undisclosed and negotiated via volume contracts. Distribution is direct to OEMs, leveraging the JV's dual-jurisdiction North American footprint (Canada and Mexico) to serve OEM assembly hubs, while technology and process know-how are sourced from POSCO FUTURE M's established cathode and anode materials expertise.

Headcount is targeted at 200+ employees, and the company has stated an ambition to scale toward 300,000 tons of annual cathode production globally — a level described as a benchmark for the industry. The venture is positioned as a frontrunner in Quebec's battery materials cluster, supported by renewable energy access and aligned with broader policy frameworks favoring domestically sourced EV battery materials in North America. No public funding rounds, revenue figures, app products, third-party customer logos, awards, patents, certifications, M&A, or public-company listing details were disclosed in the source material.

Name

Ultium Cam

Legal name

Ultium CAM, Limited Partnership

Website

https://ultiumcam.net

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Ultium CAM is a joint venture between General Motors and POSCO FUTURE M that produces nickel-rich NCM cathode active materials for lithium-ion batteries, primarily for electric vehicle manufacturers and battery producers serving OEMs across North America.

Ownership category

akta.pro rank

Product category

Battery Materials

NAICS

Battery Manufacturing (33591)

SIC

Miscellaneous Chemical Products (2890)

akta.pro primary industry

Cathode Active Materials (CAM) Manufacturing (EUAFABAB)

Keywords

• Cathode active materials
• Lithium-ion batteries
• Battery materials manufacturing
• High-nickel NCM cathodes
• Electric vehicle batteries

Headquarters

HQ city

Bécancour

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Infrastructure, Personnel, Operations, Technology or R&D

Revenue model

1. Cathode Active Materials Sales: Ultium CAM generates revenue through the production and sale of cathode active materials (CAM) for lithium-ion batteries. The company produces high-nickel NCM cathodes sold to EV manufacturers and battery producers. Revenue is derived from long-term supply contracts with automotive OEMs, particularly given the strategic relationship with co-founder General Motors.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Ultium CAM produces nickel-rich NCM (Nickel, Cobalt, Manganese) cathode active materials used as a critical component in lithium-ion batteries. The NCM-8x product family, with approximately 80% nickel content, supplies high-capacity, thermally stable cathode materials primarily to electric vehicle manufacturers, with secondary supply to IT device manufacturers (cell phones, tablets, laptops). Materials are produced at facilities in Bécancour, Quebec, Canada and Altamira, Mexico.

Product overview

Ultium Cam is a battery materials manufacturing company resulting from a collaboration between POSCO FUTURE MATERIALS CANADA INC. and GENERAL MOTORS BATTERY RAW MATERIALS CANADA INC. The company's single product focus is on cathode active materials (CAM) essential for lithium-ion batteries. The primary product offering is the NCM-8x high-nickel cathode materials product family, which comprises nickel-rich NCM formulations with approximately 80% nickel content, along with cobalt and manganese. The company is positioned to expand production capacity in parallel with EV market growth, with an estimated annual cathode production target of 300,000 tons globally, though the Becancour facility is initially producing 30,000 tons.

Differentiator

Problem solved

Functional benefit

Products and services

• NCM-8x High-Nickel Cathode Materials Nickel-rich NCM (Nickel, Cobalt, Manganese) cathode active materials comprised of approximately 80% nickel, with cobalt and manganese, featuring high capacity, thermal stability, and low internal resistance. Designed for use in lithium-ion batteries for electric vehicles, IT devices (cell phones, tablets, laptops), and other electronic machines. Sold to EV manufacturers and battery producers.

Quantifiable outcome

• Annual cathode production capacity of 300,000 tons
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• POSCO FUTURE M: Ultium CAM's parent and technology partner; one of the world's largest NCM cathode active material producers. Directly comparable as a high-nickel NCM CAM manufacturer serving EV cell makers globally.
• Sumitomo Metal Mining: Japanese integrated miner/refiner with a major NCM cathode active materials business serving Panasonic and other cell makers. Comparable high-nickel CAM technology and large-scale production.
• Umicore: Belgian materials company and one of the leading global NCM cathode active material producers with manufacturing in Asia and Europe. Comparable product portfolio and customer base in EV battery materials.
• EcoPro BM: South Korean high-nickel NCM cathode manufacturer supplying major cell makers including SK On and Samsung SDI. Direct competitor in NCM-8x chemistry and a benchmark for Ultium CAM's target economics.
• Nichia Corporation: Japanese specialty chemical and cathode materials producer with NCM cathode offerings for lithium-ion batteries. Comparable as a high-quality CAM supplier to cell makers in Asia.
• Ronbay Technology: Chinese high-nickel NCM cathode active material producer supplying cell makers globally, including CATL-affiliated operations. Comparable as a leading NCM-8x scale producer.
• Tianjin B&M Science and Technology (Bamoer): Chinese NCM cathode active material producer with significant high-nickel capacity serving domestic and global cell makers. Comparable product mix and customer profile.

Emerging players

• Nano One Materials: Canadian battery materials company developing cathode active materials including NCM and LFP with a focus on low-cost, sustainable production processes. Comparable as a North American CAM technology developer.

Broad incumbents

• LG Chem: Major Korean battery materials and cell producer with its own CAM manufacturing operations. Comparable technology scope and customer overlap with Ultium CAM's NCM focus.
• BASF: German chemical giant with a cathode active materials business and broader battery materials portfolio (including precursor and recycling). Comparable as a CAM producer with broader chemical industry capabilities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ultium-cam

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ultium Cam