General Motors has announced it will build a new North American cathode plant for electric vehicle batteries. The plant, to be built under a joint venture with South Korean company Posco Chemical, will process active cathode material (CAM), which accounts for about 40 percent of the cost of EV battery cells,
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like other GM automotive industries. It is racing to increase its EV offerings, promising $27 billion to develop and produce 30 new electric vehicles by 2025. To achieve this great feat, the company is trying to get stronger. Understand the supply chain, including battery manufacturing.
The company said it would spend more than $4 billion to build two battery plants in North America. in collaboration with South Korea's LG Chem Like the rest of the auto industry, GM is racing to increase its EV offerings.The new cathode plant will supply battery materials to two plants under construction:
the Ultium Cells plant in Lordstown, Ohio, and Spring Hill, Tennessee. GM also plans to build two more cell facilities in the middle. A decade ago, the company said, GM had not disclosed the location of the new cathode plant. But it said it would open for service by 2024.