The companies said on June 2 the new investment in their Ultium CAM plant, expected to start operating in 2025, will be used to set up additional facilities for local on-site processing of critical minerals used in electric vehicle batteries.
It will produce cathode active material for EV batteries. CAM includes components such as processed nickel, lithium and other materials that make up about 40 per cent of the cost of a battery. Cathodes are also the most complex and costly chemical component of an electric vehicle battery.
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