A number of materials shortages have challenged automakers’ efforts to get more EVs on the road in the last year, but General Motors has now secured an agreement to get the raw materials needed to produce EV batteries. GM and Glencore, a company that mines, recycles, and produces raw materials, have just announced that they have signed a multi-year agreement to source materials for GM’s electric vehicle batteries.
Combining a shift to electric vehicles over the next decades and paying to offset emissions, General Motors announced yesterday a plan to finally put internal combustion engines and their climate-altering pollution in the rearview within 2 decades. Historically, GM is not known for quick corporate change or for prioritizing the planet over shareholder value, but the writing has been on the wall now for over a decade between government regulations and urgent climate change priorities shifting how consumers aim to purchase next vehicles. GM has worked for a number of years to retrofit older vehicle designs with hybrid and electric options, and recently put nearly all of its R&D budget into designing electric vehicles from the ground up, signaling a serious commitment to EVs. Currently, electric vehicle sales are in the single digits percentage-wise of vehicles sold, but rising quickly as more practical options become available and rapid charging becomes viable for the average consumer.