Recently, Posco announced that it has signed a three-year cathode material supply contract with General Motors. From 2023, it will supply cathode materials worth 13.7 trillion won to Ultium Cells, a joint venture between General Motors and LG New Energy.
According to the data, Ultium Cells, a joint venture between General Motors and LG New Energy, has laid out three battery factories in Ohio, Tennessee, and Lansing, Michigan, which requires a large amount of battery materials for the manufacture of batteries.
It is worth noting that POSCO Chemical has already reached a cooperation with General Motors. The two companies will jointly invest 327 million US dollars to build a cathode material factory in Quebec, Canada. Done. The joint venture plans to initially produce 30,000 tons of high-nickel cathode materials for 220,000 electric vehicles, most of which will be supplied to General Motors' auto plants in the United States.
According to GM's previous plan, the company will invest 35 billion US dollars in the development of electric vehicles and audio-visual products by 2025; by 2025, more than 30 electric vehicles will be launched globally; by 2025, the global sales of electric vehicles will exceed 1 million, Take the lead in the North American electric vehicle market; rapidly expand the scale of electric vehicle manufacturing, and by 2030, more than 50% of North American and Chinese factories can produce electric vehicles.
In addition, in terms of performance, GM expects net profit in 2022 to be in the range of $9.6 billion to $11.2 billion, adjusted earnings before interest and taxes are expected to be in the range of $13 billion to $15 billion, and the annual sales target growth is set at 25% to 30%.
