GM Strikes $18.8B Deal With LG Chem Securing Enough Materials to Produce 5 Million EVs

Key TakeawaysGeneral Motors struck an $18.8 billion deal for LG Chem to supply GM with cathode materials used in electric vehicle (EV) battery production.Starting in 2026, GM will receive enough cathode materials such as nickel, cobalt, manganese, and aluminum from LG Chem to produce about 5 million EVs.The deal comes as GM works to strengthen its position in the EV market.Tesla currently dominates the U.S. EV market, but the Chevrolet Bolt EV/EUV, which GM manufactures, made up 5.2% of EVs sold in 2023, ma ...