GM signs contract to build battery processing facility


General Motors’ all-electric roadmap is on track. This week, the company plans to form a joint venture with a group called POSCO Chemical, a costume that has nothing to do with news and social media contributors, despite sharing a mysteriously similar name. Announced.

GM’s plan requires both parties to build a facility in North America to process critical battery materials for General’s new Ultium electric vehicle platform. Please note: These are Gavins that will be used in future rigs such as Lyriq and Hummer EV. No Malicious Bolt EV.

The joint venture processes what is called cathode active manufacturing (CAM). This is clearly the main battery material that accounts for about 40% of the cost of battery cells. With this new initiative, GM and LG will supply the Ultium Cells facility under construction in the Lordstown and Springhill areas, similar to a transmission plant that will assemble a gearbox to attach the new plant to vehicles in another facility. To In fact, it’s a little more basic than that. Think of this new location as a factory that manufactures torque converters that are sent to transmission factories. after that Move on to the final assembly.

“Collaboration with POSCO Chemical is an important part of GM’s global product development, purchasing and supply chain to rapidly expand US EV production and drive innovation in battery performance, quality and cost,” said GM’s global product development, purchasing and supply chain. Doug Parks, Executive Vice President in charge, said. “We are building a sustainable, resilient North American-focused EV supply chain that covers the entire ecosystem from raw materials to battery cell manufacturing and recycling.”

It’s a lot of marketing rice husks, but it makes sense for the guy. It is advantageous for car companies to own as much supply chain as possible and manage their future themselves, not in the hands of other facilities. This challenge became clear last year or so due to the ongoing shortage of semiconductors. Still, it doesn’t always work. When Henry Ford tried to run a rubber plantation in Brazil in the 20s, he was able to own the production of tires.

It is worth noting that these plans are described as “non-binding term sheets” and that the final agreement is expected sooner or later. Its handy title is a great way to announce a big plan, but it protects itself in case the situation turns into a turtle at some point in the future, before the project actually progresses. GM has stated its goal of launching more than 30 EVs worldwide by 2025, of which more than two-thirds are available in the United States. They also want to gain US market share leadership in EVs. Remember all the examples Of the specific electric cars they have ever manufactured

[Image: GM]

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GM signs contract to build battery processing facility

Source link GM signs contract to build battery processing facility

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