GM Leads $50 Million Funding Round in EnergyX to Unlock U.S.-Based Lithium Supply for Rapidly Scaling EV Production

April 25, 2023

The collaboration is focused on unlocking the North American supply of lithium, a critical material for EV batteries, by using EnergyX’s innovative process to maximize efficiency while improving sustainability for GM’s rapidly scaling EV production. GM is investing in every stage of the battery supply chain in North America, from raw materials, to processing, to cell components and full battery cell production. “This single bottleneck (a massive lithium shortage) is the biggest challenge to scaling EV production. We will unlock lithium supply in the U.S., a pivotal move in expanding the EV industry. Forward-looking statements are any statements other than statements of historical fact and represent our current judgement about possible future events.

The source of this news is from General Motor

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