Shulou(Shulou.com)11/24 Report--

According to foreign media reports, General Motors has reached a long-term nickel supply agreement with Brazilian miner Vale SA, which is crucial to the North American electric vehicle supply chain.

Under the agreement, Vale Canada will supply GM with battery-grade nickel sulfate, a raw material critical to the manufacture of lithium-ion batteries, from Vale's proposed plant in Bécancour, Quebec, Canada.

While GM is working on lithium iron phosphate (LFP) batteries to reduce its demand for nickel sulfate, the company still relies heavily on the material. Under the terms of the agreement, the material will be used in GM's Ultium battery cathode, which will power a range of electric vehicles.

GM said the agreement ensures it receives a steady supply of nickel sulfate to support its fast-growing demand for electric vehicle production in North America.

For the past two years, GM has been amassing battery material at full steam. It is estimated that the company has struck more than 20 deals so far, but that number is only expected to rise in the coming months as the scarcity of battery materials does not appear to be going away.

In addition to GM, Ford, Hyundai/Kia, Volkswagen, Stellantis, Mercedes-Benz Group and even Tesla have signed numerous agreements with mining companies to ensure the supply of needed materials.

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