Cleaner Tech
GM Signs $18.6 Billion EV Cathode Supply Deal With LG Chem
- US automaker will be able to make 5 million EVs with materials
- Agreement is part of LG’s long-term supply commitment to GM
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LG Chem Ltd. agreed to provide 24.7 trillion won ($18.6 billion) of cathode materials to General Motors Co. under a long-term supply deal the companies inked Wednesday.
The agreement will see LG provide more than 500,000 tons of cathode materials to the US carmaker from 2026. The materials will be produced from LG’s plant in Tennessee and GM should be able to make around 5 million electric cars using them, according to a statement from the South Korean company.