LG Chem has signed a $19B deal with General Motors to supply cathode materials used to make electric vehicle batteries, Kwanwoo Jun of The Wall Street Journal reports. LG Chem will supply $18.65B worth of cathode materials to GM from 2026 to 2035. LG Chem intends to supply General Motors with 500,000 metric tons of cathode materials that will be produced by a plant currently being built in Tennessee, the Journal said, citing a statement made by the company. The supplied cathode materials would be enough to power 5M high-performance electric vehicles.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on GM:
- General Motors (NYSE:GM) Stages New Recall, Shares Gain Anyway
- What You Missed This Week in EVs and Clean Energy
- Stellantis initiated with an Outperform at Wolfe Research
- GM’s Cruise doesn’t see robotaxis on streets again until Q4, Reuters reports
- Bad News for General Motors Company Stock: This New Risk Has Been Added
