GM Secures 3 EV Supplier Contracts, Can Make 1M EVs by 2025
July 27, 2022—General Motors on Tuesday said it has secured three new supplier agreements that will provide the automaker with enough EV battery raw materials to meet its current production goals.
According to a report from the Detroit Free Press, GM's new contracts with LG Chem, Livent and POSCO Chemical will provide enough lithium, cobalt, nickel and Cathode Active Material to build 1 million vehicles in North America annually by the end of 2025.
"As we move forward, we will increasingly localize our supply chain, just as we have localized battery cell production," GM spokesman David Barnas said.
General Motors is planning to invest $35 billion in EVs and autonomous vehicles through 2025, and in that time the automaker is planning to launch 30 new electric models.