LG Chem and General Motors have signed a long-term supply agreement for cathode materials worth a staggering KRW25 trillion (USD18.6 billion). The deal will extend for ten years starting in 2026 ending in 2035, and amount to over 454,000 tonnes of cathode materials, enough for approximately five million EVs.
A guaranteed offtake for LG Chem’s Tennessee plant
This deal follows a comprehensive agreement made in July 2022 for the long-term supply of cathode materials, and further cements the relationship between the two companies. The supply of cathode materials will begin with the commencement of LG Chem’s cathode plant in Tennessee, US. Construction of the Tennessee base began in December 2023 and is set to reach completion in…
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