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Maybe all the fuss about slower EV demand is way off?
Case in point: General Motors just inked a deal with South Korea’s LG Chem for $19 billion — yes, billion with a “b” — worth of EV battery material. That’s one of the largest EV supply deals of all time. The money will be spent over a decade and will fund the start of cathode production at the Tennessee plant operated by the two companies’ joint venture.
LG Chem said it will supply GM with half a million tons of cathode materials — nickel, cobalt, manganese, aluminum — which is enough to power over 5 million EVs with 300 miles of range each. Keep that in mind the next time someone tells you that EVs are just a fad.
News Room | PR Center | Company | LG Chem
[www.lgchem.com]
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