A General Motors (GM) is bidding for the non-ferrous division FINE. The investment is mostly beneficial for the electric vehicle segment because it will make it easier to access the materials needed to make batteries. Information provided by sources bloomberg, technology and data company for the financial market (as well as a breaking news agency) headquartered in NY. A FINE could get more $2 billion in a hypothetical contract.

A grandmaster not alone in his work. ABOUT Saudi Arabia State Investment Fund And Mitsui & Co. assess the possibility of submitting proposals for participation in copper-nickel operations. Interested parties have not yet received a final decision on commercial proposals. At the time of this article’s publication, representatives from Vale and GM declined to comment.

(Credits: Bolt EV 2022/Chevrolet)

Vale plans to announce a new partner in the first half of 2023

Although proposals are still being analyzed, FINE separates non-ferrous metal assets from iron ore mining. The new partner is expected to be announced in the first half of this year, according to a company management announcement in 2022. The move comes at a time when the cessation of fossil fuel activities is boosting demand. for suitable materials for the manufacture of batteries for electric vehicles.

Ensuring the supply of nickel and copper is one of the concerns of automakers, as well as signing direct contracts with metal producers. The Brazilian mining company is a direct supplier of batteries for the company’s vehicles. Teslaone of the most successful companies in Elon Muskcurrent owner twitter. GM entered into an agreement with a multinational company in 2022 to acquire supplies of the metal.

Electric vehicles will make up 10% of vehicles sold worldwide in 2022.
China and Europe are the main growth drivers in the segment

Source: Globe

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