GM and GE ink agreement on supply-chain collaboration
General Motors Co. GM, +0.67% and General Electric Co. GE, said Wednesday that they signed a memorandum of understanding to improve supplies of rare earth materials, magnets, copper and electrical steel used in making electric vehicles and renewable energy equipment.
"A secure, sustainable and resilient local supply chain for electric vehicle materials is critical to the execution of GM's vision of an all-electric future," said Shilpan Amin, GM's vice president for global purchasing and supply chain.
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