GM, POSCO Future M step up CAM, pCAM capacity in North America for EV battery
General Motors and POSCO Future M have recently announced the second phase of their 'Ultium CAM' joint venture, with an investment projected to exceed $1 billion (U.S.) to increase production capacity of CAM in North America and integrate precursor materials production meant for EV battery supply chain in the region.
Precursor CAM (pCAM) is a specifically engineered combination of processed raw materials necessary to produce Cathode Active Material (CAM), a key battery material representing about 40 percent of the cost of a battery cell. Currently, CAM and pCAM processing is highly concentrated in Asia.
"Increasing CAM production capacity and adding pCAM to our joint venture is another significant step in building a more secure and sustainable North America-focused supply chain to support GM's fast-growing EV production needs," said Doug Parks, GM executive vice president, Global Product Development, Purchasing and Supply Chain.
"We started by establishing battery cell production in the U.S. From there, we have been working through the entire battery supply chain, all the way to raw material recovery. We're building higher levels of vertical integration, driving expanded investment and helping create jobs across North America", he added.
GM is executing plans to install 1 million units of annual EV capacity in North America in 2025, supported by four battery cell joint venture plants in the US with 160 GWh of capacity to start with.
The Ultium CAM joint venture will support production of approximately 360,000 Chevrolet, Cadillac, GMC, Buick and BrightDrop branded GM vehicles annually in the 2025-2030 timeframe in North America, according to the automotive group.
"We are experiencing rapid growth of the EV battery materials market across North America. I believe our joint venture will fortify its position in the secondary battery material industry with this proactive decision to increase CAM production and bring pCAM production to North America," said Kim Joon-Hyung, President, POSCO Future M.
He added, "POSCO Future M's advanced technology and experience is supported by our expanding partnership with GM. We are aiming to play a key role in the eco-friendly mobility market with our products."
POSCO Future M, as a global advanced materials company dedicated to battery for future mobility, is producing high-capacity Ni-rich cathode materials and low-expansion anode materials for EV batteries, and boasts a set of technologies such as NCM, NCMA and NCA cathode, silicon anode and materials for solid-state battery as well.