General Motors negotiates with CATL for US-based EV battery production, partnering with TDK and expecting 1,000+ jobs.

General Motors (GM) is negotiating to purchase electric vehicle (EV) batteries from China's Contemporary Amperex Technology Co. (CATL), which will be assembled at a new plant in the U.S. South, managed by Japan's TDK Corporation. This partnership aims to create over 1,000 jobs, establish a domestic supply chain, and reduce reliance on Chinese imports. GM shares rose 3.82% following the news, reflecting investor optimism about the deal.

September 12, 2024
7 Articles