General Motors Co. announced that it will invest $625 million in a joint venture aimed at mining raw materials necessary for producing electric vehicle (EV) batteries in the U.S. This move is in line with GM’s plans to introduce 30 new electric vehicles globally by the end of 2025. It sees this investment as a strategic move to secure a long-term supply of essential materials necessary for manufacturing EV batteries, which could possibly reduce costs and dependence on overseas suppliers. Further details, such as who GM’s joint venture partner is or the exact location of the mining project, may not be provided in this brief message.
