GM: invests in electric batteries
(CercleFinance.com) - General Motors and POSCO Future M announce the second phase of their Ultium CAM joint venture, an investment expected to exceed $1bn to increase production capacity for electric vehicle batteries in North America.
The investment will increase production of cathode-active materials (CAM) and integrate the production of precursor materials (pCAM) - a specially designed combination of processed materials required for CAM production.
With this investment, Ultium CAM will support the production of around 360,000 Chevrolet, Cadillac, GMC, Buick and BrightDrop electric vehicles annually over 2025-2030 in North America.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The investment will increase production of cathode-active materials (CAM) and integrate the production of precursor materials (pCAM) - a specially designed combination of processed materials required for CAM production.
With this investment, Ultium CAM will support the production of around 360,000 Chevrolet, Cadillac, GMC, Buick and BrightDrop electric vehicles annually over 2025-2030 in North America.
Copyright (c) 2023 CercleFinance.com. All rights reserved.