GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
Publishing timestamp: 2024-02-07 11:43:21
Summary
General Motors plans to spend $19 billion over the next decade to source critical materials for electric vehicle batteries from LG Chem. The long-term supply contract will see LG Chem supplying GM with cathode materials from 2026 through 2035, making it one of the largest EV supply deals for GM. This deal suggests GM's commitment to EVs, but also reflects adjustments to slower adoption rates.
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Source: https://www.cnbc.com/2024/02/07/gm-lg-chem-ev-battery-materials-deal.html