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GM to spend $19 billion through 2035 to source EV battery materials from LG Chem
General Motors plans to spend $19 billion over roughly the next decade to source critical materials for use in electric vehicle batteries from LG Chem, the companies said Wednesday. The long-term supply contract will see LG Chem supply GM with more than 500,000 tons of cathode materials – include nickel, cobalt, manganese, aluminum – from 2026 through 2035, the South Korean supplier said in a release. That supply would be enough to power 5 million units of EVs with a range of more than 300 miles, it said. The cathode materials from an LG plant that’s currently under construction in Tennessee will supply GM’s ... (full story)
