GM signs deal with Australian supplier for EV battery raw materials
General Motors has expanded the supply chain for its electric vehicles by signing a deal with Australian supplier Element 25 for as much as 32,500 metric tons of manganese sulfate per year.
The automaker and Element 25 on Monday said the agreement between the companies includes an $85 million loan from GM to help Element 25 fund construction of a $290 million facility in Louisiana to produce battery-grade manganese sulfate. Production is expected to begin in 2025, the companies said, and Element 25 plans to use manganese concentrate mined in Australia in its Louisiana operations.
“GM is scaling EV production in North America well past 1 million units annually and our direct investments in battery raw materials, processing and components for EVs are providing certainty of supply, favorable commercial terms and thousands of new jobs, especially in the U.S., Canada and free trade agreement countries like Australia,” Doug Parks, GM’s executive vice president of global product development, purchasing and supply chain, said in a statement.
