GM - General Motors Shifts Gears: Strikes $19B Pact with LG Chem For Fueling EV Dream | Benzinga
LG Chem penned a long-term cathode material supply contract with General Motors Co (NYSE:GM) worth KRW 25 trillion ($19 billion).
As per the deal, LG Chem will supply General Motors with more than 500,000 tons of cathode materials, enough to power 5 million units of high-performance pure EVs with a range of 500km on a single charge.
LG Chem boosted cooperation with General Motors in the North American market by using its cathode plant in Tennessee, U.S., as a global battery material production hub.