Feb. 7, 2024
LG Chem and General Motors Sign $19 Billion Cathode Material Supply Agreement
BEIJING, February 7 (TMTPOST)—South Korea's LG Chem has signed a $19 billion deal with General Motors to supply cathode materials used to make electric-vehicle batteries. The S. Korean chemical company said Wednesday that it will supply 24.750 trillion won ($18.65 billion) worth of cathode materials to GM from 2026 through 2035. LG Chem plans to supply the U.S. automaker with around 500,000 metric tons of cathode materials, which will be produced at its plant being built in Tennessee, as per the company statement.
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