, are rushing to create a cobalt-free battery. GM’s Ultium batteries, for example, will add aluminum — making the mix NCMA — and reduce the cobalt content by 70 percent.
LG Chem will begin supplying CAM to the automaker starting in the latter half of 2022 and lasting until 2030. GM says this will be enough battery material to power approximately 5 million electric vehicles, which should help the company in its quest to catch up to Tesla. GM has said it plans to spend $30 billion by 2025 on the creation of 30 new plug-in models in its bid to overtake Elon Musk’s company as the leading EV company in the world. Tesla still dominates the relatively small EV market in the US, with around 66 percent market share, while GM only has around 6 percent.
Source: Car News Wire (carnewswire.net)
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