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UPDATE 1-South Korea's LG Chem signs $19 bln cathode supply deal with General Motors

Reuters
·1 min read

(Adds details from the second paragraph)

SEOUL, Feb 7 (Reuters) - South Korea's LG Chem 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 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)