GM competing for stake in Vale’s base metals unit, Bloomberg reports

General Motors (GM) is competing for a stake in Brazilian mining giant Vale‘s (VALE) base metals unit, underscoring automakers’ desire for easy access to the materials needed for electric vehicle batteries, Bloomberg’s Dinesh Nair and Cristiane Lucchesi report, citing people familiar with the matter. General Motors has advanced to the next round of bidding for a minority stake in the business, the people said. Vale could raise more than $2 billion from a deal, according to the people. Reference Link