General Motors Forms Joint Venture to Build Battery Chemical Plant in North America

The automobile company ‘General Motors’ has been forming a joint venture with South Korea’s Posco Chemical for building a battery chemical plant in North America as it has been bringing more steps in the supply chain of electric vehicles under the company.

On Wednesday, 1^st December 2021, General Motors said that, the details of the new joint venture are still under work, which is also including the amounts of the investment along with the location of the plant, and the company also said that, the factory is also going to be supplying the materials for making the cathodes, which is the energy center of a battery.

Doug Parks, head of global product development and supply chain at General Motors said, the plant is going to employ over hundreds of the people, and it is going to start producing the materials in the year 2024. The plant is also going to be supplying four battery cell factories in North America, which General Motors is planning to build, and the locations for the two factories had also been announced, Lordstown, Ohio and Spring Hill, Tennessee.

Doug Parks said, increasing the battery production has been central to their strategy for the purpose of driving the large adoption of the electric vehicles, and he thinks that, this might be helpful for solidifying the supply chain of the company along with adding security to it.

General Motors is also planning to build 30 electric vehicles across the globe by 2025, and the company said, it is going to spend around 35 billion dollars between 2020 and 2025 on the production of autonomous and electric vehicles.