LG Chem Signs $19 Billion Deal with General Motors for EV Battery Cathodes
South Korea’s LG Chem has announced a groundbreaking deal with General Motors to supply electric vehicle (EV) battery cathodes worth a staggering 24.7 trillion won ($18.61 billion). The deal spans from this year to 2035 and marks a significant milestone in the global shift towards sustainable transportation.
Massive Supply for EV Revolution
LG Chem plans to provide more than 500,000 tonnes of materials for cathodes, which will be sufficient to power approximately 5 million EVs. This move reflects the growing demand for eco-friendly vehicles and highlights LG Chem’s commitment to driving the EV revolution forward.
Expansion Plans in the U.S.
In addition to the monumental deal, LG Chem is also gearing up for expansion in the United States. The company is currently in the process of building a battery cathode plant in Tennessee, set to commence mass production in 2026. This development is a testament to LG Chem’s long-term vision and dedication to meeting the rising demand for EV components in the U.S. market.
