South Korea's LG Chem, opens new tab 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, opens new tab 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.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM