GM Invests In Battery Recycling Company Lithion - What's On the Cards? - General Motors (NYSE:GM)

General Motors Co's GM investment arm GM Ventures has made a strategic investment in Lithion Recycling Inc's Series A financing round. The financial terms were not dsiclosed.
The investment will support the new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem.
The collaboration will focus on validating Lithion's recovered battery materials for use in producing new batteries and the potential to acquire battery materials.
Also, the collaboration will concentrate on joint investment in research and development for both recycling processes and the recyclability of future battery design.
Related: Hertz Global To Buy 175,000 EVs From General Motors
As demonstrated by a third-party lifecycle analysis, Lithion's technology and operations will reduce greenhouse gas emissions by over 75% and water usage by over 90% compared to mining battery materials.
In 2023, Lithion will launch its first commercial recycling operations, followed by the launch of its first hydrometallurgical plant in 2025.
"GM is aggressively scaling battery cell and EV production in North America to reach our target of more than 1 million units of annual capacity by 2025, and we plan to eliminate tailpipe emissions from all our new light-duty vehicles by 2035 – so we are building a supply chain and recycling strategy that can grow with us," said Jeff Morrison, GM VP, Global Purchasing and Supply Chain.
Also Read: GM Gets Its Motor Running: Carmaker Announces Share Buybacks, Quarterly Dividends, EV Projects And Other Hard-Driving Initiatives
Price Action: GM shares are trading lower by 0.24% at $37.59 on the last check Thursday.
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GM Invests In Battery Recycling Company Lithion - What's On the Cards?

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