Federal subsidy policies signed into law in August as part of the Inflation Reduction Act could turn that domestic battery supply chain into a federally funded boost for GM's bottom line.
and other executives are scheduled to brief investors Thursday on the automaker's progress toward scaling up production capacity to deliver 1 million electric vehicles a year in North America by 2025.
Kunjur said his organization is new within GM, and combines legal teams, merger and acquisition experts and treasury staff to work on joint ventures, equity investments and alliances to secure access to battery and magnet materials or production capacity. Among established North American automakers, GM has moved the fastest to emulate Tesla's strategy of building a battery manufacturing network from lithium extraction to assembly of battery packs and cells. GM's Ultium LLC joint venture with LG Energy Solutions has announced plans for four North American battery plants.
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