General Motors (GM) has reached an agreement with Norwegian battery materials producer Vianode that will develop and supply synthetic anode graphite for the automaker’s battery manufacturing.

Vianode said in a news release Wednesday that the multi-billion-dollar deal will provide GM with synthetic anode graphite beginning in 2027 . Specificalᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚly, the material is expected to go to GM’s battery cell manufacturing joint venture with LG Energy Solution but♑ could include other joint ventures in the future. 

Anode graphite is the largest component by weight of lithium-ion batteries, Vianode noted, which are used to power 澳洲幸运5官方开奖结果体彩网:electric vehicles. For GM, the development of synthetic anode graphite helps the company “build a sustainable battery supply chain in North America,” GM Senior Vice President of Global Purchasing and Supply Chain Jeff Morrison said in the news release. 

Vianode said its synthetic anode graphite production has a "90% lower [carbon dioxide] footprint than conventional production methods."

GM did not immediately respond to a request for comment. Its shares rose more than 2% intraday Wednesday and are up nearly 50% over the past year.