General Motors (GM), one of the world's largest automakers, has announced plans to invest $150 million in Nouveau Monde Graphite (NMG), a Canadian mining company. This investment seeks to support the development of a secure supply chain for battery-grade graphite, a key component in electric vehicle (EV) batteries.
The investment agreement includes a long-term supply deal between GM and NMG. Under this agreement, Nouveau Monde Graphite will supply General Motors with 4,000 tons of the carbon-based substance annually, starting in 2023. The deal will further solidify GM's commitment to transitioning toward an all-electric vehicle fleet in the coming years.
