Miner Glencore to supply cobalt to power GM’s electric vehicles
2022.04.12 14:56
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo
(Reuters) -Global miner Glencore (OTC:GLNCY) PLC said on Tuesday it would supply cobalt to General Motors Co (NYSE:GM) from its Murrin Murrin operation in Australia to be used in the U.S. automaker’s electric vehicles.
The cobalt will be used in GM’s Ultium battery cathodes, which powers the Chevrolet Silverado EV, GMC Hummer EV and Cadillac Lyriq vehicles, the companies said in a joint statement https://
The multi-year agreement comes as automakers around the world rush to ink deals with miners and secure supplies of lithium, nickel and cobalt, which are critical components of EV batteries.
GM has laid out plans to ramp up capacity to build one million EVs in North America by the end of 2025.
