GM signed a multibillion-dollar deal for North American EV battery materials
General Motors inked a multibillion-dollar deal with a Norwegian graphite manufacturer to supply a key material in next-gen EV batteries.
GM’s partner in the deal, synthetic-graphite manufacturer Vianode, will build North American production facilities and start delivering the crucial material by 2027.
By weight, graphite (synthetic or natural) is the largest part of an EV battery. Last month, North American miners pushed the US to impose a 920% tariff on Chinese graphite — a steep jump from the current 25% tariff. The move came just weeks after China imposed tighter restrictions on graphite exports to the US.
The cost of EV batteries fell 90% between 2008 and 2023, and analysts at Goldman Sachs expect them to plunge another 50% from that 2023 level by the end of this year.
By weight, graphite (synthetic or natural) is the largest part of an EV battery. Last month, North American miners pushed the US to impose a 920% tariff on Chinese graphite — a steep jump from the current 25% tariff. The move came just weeks after China imposed tighter restrictions on graphite exports to the US.
The cost of EV batteries fell 90% between 2008 and 2023, and analysts at Goldman Sachs expect them to plunge another 50% from that 2023 level by the end of this year.
