YOUNGSTOWN, Ohio (WKBN) – General Motors is ramping up its battery-making resources with a new agreement to get the raw materials it needs to make them and creating a new energy division.
GM has been spanning the globe to get what it needs to build batteries for its electric vehicles in places like South Korea and now Australia.
The automaker has hammered out a deal to get nickel and cobalt for Ultium battery cells after making a “strategic investment” in Queensland Pacific Metals of Australia.
The elements will be processed in a way that reduces waste with no requirement for a tailings dam, which is a byproduct of mining that you typically see at sites. It’s an earth-filled embankment where the byproducts of mining are stored.
GM is expected to invest up to $69 million in Queensland Pacific Metals for the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia.
The nickel and cobalt will be used to help power many of GM’s trucks, cars, SUVs, vans and luxury vehicles.
Also on Tuesday, GM announced that it is creating a new energy division called GM Energy, according to the Associated Press.
The unit will create systems for households and commercial customers that link electric vehicles to power storage and generation with the capacity to sell energy from electric vehicles and stationary storage batteries back to utilities during peak periods of energy usage.
GM said it also has partnerships with several companies, including solar technology and energy services provider SunPower. In the deal with SunPower, the two companies will develop and offer customers a home energy system that includes integrated electric vehicle and battery solutions, solar panels and home energy storage.
The system will be available at the same time as the retail launch of the 2024 Chevrolet Silverado EV, which is expected to start production in fall 2023.
GM has promised to go almost entirely electric by 2035.
The Associated Press contributed to this report.