GM steps up US battery supply chain plans with Posco cathode agreement

General Motors and South Korea’s Posco said they will build a factory in North America to produce battery cathode materials for electric vehicle (EV) batteries, in the latest effort to build a regional supply chain.

The facility will open in 2024 and will supply GM’s Ultium battery cell factories in Ohio and Tennessee, which the automaker is building with LG Energy Solution, GM said.

The deal will boost North America’s supply of materials needed for EV batteries and reduce its reliance on production from Asia. The US is set to have 15% of global battery capacity by . . .

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