GM Invests in Canadian Battery Recycling Company to Secure Lithium Supply
- September 23, 2022
- Posted by: Quatro Strategies
- Category: Manufacturing
General Motors (GM) invests in Canadian battery recycling firm Lithion Recycling to accelerate efforts to secure lithium supply. Although the financial details have not been revealed, the agreement is set to create a partnership between the world’s second largest automaker and the Quebec-based company to pursue a circular battery ecosystem using Lithion’s technology. The companies said an analysis show that Lithion’s technology has a recovery rate of 95%. Since it uses renewable energy, the company’s technology and operations is expected to reduce greenhouse gas emissions by over 75% and water usage by over 90% compared to mining battery materials.
Despite a slowdown of global economy and recession risks, buyers of electric vehicle (EV) battery components are stepping up efforts to secure supplies.
GM has been scaling up battery cell and EV production in North America to reach its target of more than one million units of annual capacity by 2025. The automaker also aims to eliminate tailpipe emissions from all its new light-duty vehicles by 2035.
In August, Ultium Cells, GM’s joint venture with LG Energy Solution, opened its first U.S. battery cell plant, with two additional plants under construction. A fourth planned battery cell plant will bring GM’s projected total U.S. battery capacity to 160 GWh.
With binding agreements it has in place, GM says all its battery raw material needs will be met for the automaker to reach its annual planned production of two million battery-powered cars by 2025. That’s when GM will be ramping up production of about 30 electric models globally.
Lithion will launch its first commercial recycling operations in 2023, with a capacity of 7,500 tonnes of lithium-ion batteries per year. It will be followed in 2025 by the launch of Lithion’s first hydrometallurgical plant.
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