GM announces new partnership for EV battery supply
General Motors Co. is entering into a multi-year sourcing agreement with a Switzerland-based natural resource company, Glencore, to secure cobalt supply for electric vehicles, the companies said Tuesday.
Glencore's Murrin Murrin operation in Australia will supply the cobalt, which is an important metal used in EV batteries. The cobalt will be used in GM’s new Ultium battery cathodes, which will power electric vehicles like the Chevrolet Silverado EV, GMC Hummer EV and Cadillac Lyriq.
The agreement builds "on a commitment both companies share to create strong, sustainable and resilient supply chains through collective industry and multi-stakeholder platforms," the companies said in a press release.
Glencore and GM are members of the Responsible Minerals Initiative, which has a vision for mineral supply chains to "contribute positively to social economic development globally."