GM and LG Chem Seal $18.8 Billion Deal for EV Battery Materials

The decade-long agreement aims to bolster GM's electric vehicle production, marking a significant step in the automaker's EV market strategy.

General Motors (GM) and LG Chem have announced an $18.8 billion deal for the supply of cathode materials for EV batteries, set to run from 2026 through 2035.
The agreement will enable GM to produce approximately 5 million electric vehicles, aiming to strengthen its position in the competitive EV market.
LG Chem will supply over 500,000 tons of materials, including nickel, cobalt, manganese, and aluminum, from its plant in Tennessee, which is expected to be the largest cathode plant in America.
The deal reflects GM's commitment to securing a sustainable supply chain for its expanding EV production needs and marks one of GM's largest EV supply agreements.
GM's stock price rose by 2% following the announcement, indicating positive market reception to the deal.