GM and GE Renewable Energy Sign MoU to Support EV Growth
General Motors and GE Renewable Energy signed a Memorandum of Understanding to find new ways to supply rare earth materials, copper, magnets, and electric steel for the building of renewable energy equipment and electric vehicles.
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What will this collaboration entail?
GM has been focused on electrifying its lineup, using its new Ultium battery platform. So far, it has introduced the Chevy Bolt EV, Chevy Bolt EUV, Chevy Silverado EV, GMC Hummer EV, and Cadillac LYRIQ. GE Renewable Energy, meanwhile, offers wind, hydro, utility-scale solar, and more solutions for green power.
Initially, GM and GE Renewable Energy will work to develop a supply chain in North America and Europe for magnet manufacturing. Finished magnets and metal alloys come from rare earth materials, and they are vital to building electric motors.
Photo: General Motors
The companies will then join forces to create new supply chains for other materials. These include eSteel and copper, which GM utilizes in automotive traction motors and GE Renewable Energy uses in renewable power generation.
“Motors are one of the most important components of our Ultium Platform, and the heavy and light rare earth materials are an essential ingredient in our motor magnets. The combined scale of GM and GE will enable us to unlock the potential for securing low-carbon footprint, ESG-friendly, secure and cost competitive materials,” said Shilpan Amin, GM vice president for Global Purchasing and Supply Chain.
GM and GE Renewable Energy have also agreed to consider creating new technologies together. And they will evaluate new processes for both building automotive parts and generating renewable power.
In addition, these two companies along with other co-sourcing partners will search for public policies that will support the creation of supply chains based in North America and Europe for important materials.
If GM releases any more specific details on new supply chains, we at The News Wheel will be sure to let you know.
Amanda Drago lives in West Chester, Ohio with her wonderful family, which includes her adorable dog, Coco. Amanda recently graduated from Miami University with degrees in both marketing and creative writing. However, if she was ever forced to change career paths, she imagines that she would train dogs for movies. In her spare time, she enjoys reading, writing, and watching Netflix. She also has a special place in her heart for theatre and purchases tickets to as many shows as she can. See more articles by Amanda.