South Korea's LG Chem signs $19 bln cathode supply deal with General Motors (updated)

LG Chem

07/02/2024 06:53

(Adds details from the second paragraph)
       SEOUL, Feb 7 (Reuters) - South Korea's LG Chem
 051910.KS  on Wednesday said it has signed a deal worth 24.7
trillion won ($18.61 billion) to supply electric vehicle (EV)
battery cathodes to General Motors  GM.N  from this year to
2035.
     The South Korean petrochemicals giant plans to supply more
than 500,000 tonnes of materials to make cathodes, enough to
power about 5 million EVs, LG Chem said in a statement. 
    LG Chem is currently building a battery cathode plant in the
U.S. state of Tennessee, which is slated to start mass
production in 2026.

 (Reporting by Ju-min Park and Heekyong Yang; Editing by
Christopher Cushing)
 ((Heekyong.Yang@thomsonreuters.com;))