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GM, LG Chem reach agreement for supply of cathode active material for EVs
- August 2, 2022
- News Release
- Management
General Motors and LG Chem have announced an agreement for LG Chem to supply cathode active material (CAM) to the automaker for electric vehicle production. CAM is a key battery material comprising processed nickel, lithium, and other materials that represents about 40% of the cost of a battery cell.
Through the long-term arrangement, LG Chem plans to supply more than 950,000 tons of CAM to GM beginning the second half of 2022 through 2030, enough for approximately 5 million units of EV production. The CAM secured by GM will be used by Ultium Cells LLC, a joint venture between GM and LG Energy Solution, at its battery cell plants in Warren, Ohio; Spring Hill, Tenn.; and Lansing, Mich.
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