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LG Chem, Ltd. (051910.KS)
- Zacks
General Motors (GM) Inks a $19B Deal for EV Battery Materials
The $19 billion deal between General Motors (GM) and LG Chem represents a landmark moment in the evolution of the EV industry.
- Barrons.com
5 Million EVs? GM Signs a Big Deal for Battery Supply.
General Motors reached a supply agreement with Seoul-based LG Chem for 500,000 tons of electric-vehicle battery cathode material.
- Reuters
UPDATE 1-South Korea's LG Chem signs $19 bln cathode supply deal with General Motors
South Korea's LG Chem on Wednesday said it has signed a deal worth 24.7 trillion won ($18.61 billion) to supply electric vehicle (EV) battery cathodes to General Motors from this year to 2035. The South Korean petrochemicals giant plans to supply more than 500,000 tonnes of materials to make cathodes, enough to power about 5 million EVs, LG Chem said in a statement. LG Chem is currently building a battery cathode plant in the U.S. state of Tennessee, which is slated to start mass production in 2026.
