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General Motors and South Korea’s LG Chem Sign $19 Billion Cathode Supply Deal

General Motors has signed a long-term cathode material supply contract with South Korea’s LG Chem worth 25 trillion Korean won or about $18.8 billion. For the auto major, the contract builds on its plan to create a strong, sustainable battery electric vehicle or EV supply chain to support its EV production needs.

The deal will commence from 2026 through 2035 with the start of production of LG Chem’s cathode manufacturing plant in Tennessee, U.S., establishing a local supply chain from cathode materials to automobiles.

During the contract, LG Chem will supply GM more than 500,000 tons of cathode materials. This is enough to power 5 million units of high-performance pure EVs with a range of 500km on a single charge.

Read the source article at Nasdaq

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