LG Chemical Signs 24.7 Trillion Won Deal with General Motors for Positive Electrode Materials Supply

LG Chemical signs an agreement with General Motors for the supply of positive electrode materials.

On February 7th, local time, LG Chemical and General Motors signed a contract worth 24.7 trillion Korean won (approximately RMB 132.34 billion). LG Chemical will supply General Motors with 500,000 tons of lithium-ion battery positive electrode materials every year from this year to 2035. Currently, LG Chemical has positive electrode material factories in Chungcheongbuk-do, South Korea, with product lines covering all mainstream types of ternary battery positive electrode materials such as NCM111, 424, 523, 622, 712, and 811. The factory in Tennessee, USA, is expected to start production in 2026 with a designed capacity of 120,000 tons, which will be used for the supply in the North American market and help General Motors' related products meet the requirements of the IRA Act tax refund.