GM has announced a plan to work with global materials firm POSCO Chemical on a battery material processing facility in North America, which is scheduled to open in 2024.
POSCO Chemical manufactures anode and cathode materials. GM plans to use the battery materials processed with POSCO for the cells it plans to produce at its new factories in Lordstown, Ohio and Spring Hill, Tennessee.
The joint venture will process cathode active material (CAM), a key battery material that GM says represents about 40 percent of the cost of a battery cell.
“Our work with POSCO Chemical is a key part of our strategy to rapidly scale US EV production and drive innovation in battery performance, quality and cost,” says GM Executive VP Doug Parks.