LG Chem has signed an agreement worth 18.6 billion dollars, to supply 10 years of materials for batteries and for electric vehicles to General Motors.
The chemical South Korean company will supply the automotive United States company with at least 500.000 tons of cathodic materials, sufficient to manufacture batteries for 5 million electric vehicles, until 2035. LG declared that they will produce the materials in the factory in Tennessee, under construction, starting in 2026. «This contract is based on GM’s commitment to creating a provisioning chain of electric vehicles with strong and sustainable batteries to support our steeply rising requirements of electric vehicle manufacturing», declared Jeff Morrison, vice-president of GM, manager of global purchases and of the provisioning chain.
