General Motors moves deeper into mining with EnergyX lithium investment
11 April 2023, 4:06 pm 1 minute
Reuters exclusively reported that General Motors Co (GM.N) intends to invest in lithium technology startup EnergyX as it expands further into the mining industry, the latest deal by the car maker to ensure long-term supplies of the metal used to make electric vehicle batteries.
EnergyX, also known as Energy Exploration Technologies Inc, has said it aims to launch an initial public offering by 2024. As part of any IPO, private equity firm Global Emerging Markets Group plans to invest $450 million in EnergyX once shares begin trading.
Topics of Interest: AutomotiveEnergyTechnology
Type: Reuters Best
Sectors: Commodities & EnergyTechnology
Countries: United States
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story