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GM Lands Cathode Supply For 5 Million EVs By 2030, Plus Lithium Deal
GM plans to overtake Tesla as the world's leading EV maker, and it hopes to do so with lower prices. Securing tons of raw materials is a major step forward.
insideevs.com
GM shared that the new deal with LG Chem will provide a supply of some 968,000 tons of cathode material. The material will begin to come in later this year, and the multi-year contract will run through 2030. GM said the total supply is enough to produce 5 million electric vehicles between now and 2030.
The second deal is with Livent. According to GM, it will last six years, beginning in 2025. The supply agreement refers to an unspecified amount of battery-grade lithium hydroxide.
