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GM and POSCO Future M to Expand EV Battery Supply Chain in North America with New Integrated CAM and Precursor Processing Complex

PR Newswire - Press Release

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Complex planned to produce Cathode Active Material (CAM) and Precursor CAM (pCAM) for 360,000 EVs annually

DETROIT, June 2, 2023 /PRNewswire/ -- General Motors Co. (NYSE:GM) and POSCO Future M announced today the second phase of their Ultium CAM joint venture, an investment projected to exceed $1 billion (U.S.) to increase production capacity of CAM in North America and integrate precursor materials production. pCAM is a specifically engineered combination of processed raw materials necessary to produce CAM, a key battery material representing about 40% of the cost of a battery cell. Currently, CAM and pCAM processing is highly concentrated in Asia.

Read more at prnewswire.com

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