General Motors digs into mining business to lead race for EV metals

General Motors is trying to speed ahead in the race for metals underpinning the industry’s shift to electric cars.

GM is pledging to sell nothing but plug-in models by the middle of the next decade. The Detroit automaker has opted to build its own battery pack and dedicated EV platform rather than move quick with converted internal combustion hardware, slowing its initial electric push. Still, Barra said that output of EV models such as the Hummer pickup, electric Cadillac Lyriq, Chevrolet Silverado pickup and Blazer SUV will ramp up this year.

Those deals may also help the miners. Barra said GM can provide them with additional cash and will be a stable source of demand thanks to its target to sell 1 million EVs in 2025, and many more beyond that.

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