General Motors Inks Battery Mineral Supply Agreement With Australia's Element 25
Portfolio Pulse from Shivani Kumaresan
General Motors (GM) has entered into a supply agreement with Australian resource company Element 25 to secure critical battery minerals for its electric vehicles in North America. GM will receive up to 32,500 tons of manganese sulphate annually from Element 25 over a seven-year period. GM will also loan Element 25 $85 million to aid in the construction of a facility in Louisiana, expected to open in 2025.
June 26, 2023 | 1:01 pm
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General Motors has secured a supply agreement with Element 25 for critical battery minerals, ensuring a stable supply for its electric vehicles in North America.
The supply agreement with Element 25 ensures that General Motors has a stable supply of critical battery minerals for its electric vehicles in North America. This will help GM meet its production goals and reduce reliance on other suppliers, potentially leading to increased investor confidence and a positive short-term impact on its stock price.
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