General Motors Co. and Australia-based Element 25 Limited have signed an agreement for Element 25 to supply up to 32,500 metric tons of manganese sulfate annually to the Detroit automaker, the companies said Monday.
The supply will support the annual production of more than 1 million GM electric vehicles in North America.
Through the agreement, GM will provide Element 25 with an $85 million loan to partially fund the construction of a new facility in Louisiana for production of battery-grade manganese sulfate, which is a key component in lithium-ion battery cathodes. Production would start in 2025.
