GM reaches supply deals for electric vehicle motor magnets

FILE - A GM logo is shown at the General Motors Detroit-Hamtramck Assembly plant in Hamtramck, Mich., Jan. 27, 2020. General Motors is forming a joint venture with Posco Chemical of South Korea to build a North American battery materials plant as it brings more steps in the electric vehicle supply chain under its umbrella. The Detroit automaker said Wednesday, Dec. 1, 2021 that details of the venture are still being worked out, including investment amounts and the plant location. (AP Photo/Paul Sancya, file)