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Vale (NYSE: VALE) said Thursday it signed a long-term contract with General Motors (NYSE: GM) to supply nickel sulfate batteries from a proposed factory in Becancour, Quebec, to gain support for GM’s fast-growing electric vehicle production. required in North America.
Under the agreement, Vale (VALE) will supply battery grade nickel sulfate, equivalent to 25K metric tons/year of contained nickel, to be used in GM’s (GM) Ultium battery cathodes, sufficient to supply 350K EVs per year; Deliveries are expected to begin in H2 2026.
Vale (VALE) said the project demonstrates its “unique position to be the choice for the EV industry, based on its low-emissions and market-leading position as North America’s largest producer of final nickel.”
The two companies also agreed to study ways of working together on the development of high-tech and commercial methods of producing recycled metals.
The deal was announced as GM ( GM ) highlighted its EV capabilities at the company’s annual marketing event.
