GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.

General Motors Co. has announced that they will be investing $625 million into a joint venture aimed at mining for materials in the U.S. that are essential for the production of electric vehicle (EV) batteries. This investment comes amid increasing global demand for EVs and a related surge in demand for battery raw material production. The joint venture will further strengthen GM’s move towards electrification and help secure its EV supply chain. It is also expected to create new opportunities and jobs in the regional mining industry.