GM and POSCO Chemical Will Build a New North America Factory to Process Cathode Active Material for Ultium Batteries
The joint venturewill process Cathode Active Material (CAM), a key battery material that represents about 40 percent of the cost of a battery cell.
- The joint venturewill process Cathode Active Material (CAM), a key battery material that represents about 40 percent of the cost of a battery cell.
- "We are very pleased to participate in the global battery supply chain project with General Motors," said Kyungzoon Min, the CEO of POSCO Chemical.
- The new facility will supply the Ultium Cells LLC facilities GM and LG Energy Solution are building in Lordstown, Ohio and Spring Hill, Tennessee.
- GM and POSCO Chemical have signed a non-binding term sheet to create the joint venture and expect to execute definitive agreements soon.