GM venture to build North American battery chemical plant

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — General Motors is forming a joint venture with Posco Chemical of South Korea to build a North American battery materials plant as it moves to bring more steps in the electric vehicle supply chain under its umbrella. The automaker said details of the venture are still being worked out, including investment amounts and the plant location. GM said the factory will supply materials to make cathodes, the energy center of a battery that amounts to 40% of the cost. The plant will employ hundreds of people and will start making materials in 2024. The move comes as automakers race to line up suppliers for scarce battery materials and components in anticipation of a widespread shift from internal combustion vehicles to those powered by electricity.