GM to Build North American Factory for EV Joint Venture
DETROIT—General Motors will build a new factory in North America as part of an upcoming joint venture with a South Korean chemical manufacturer.
GM signed a “non-binding term sheet” Dec. 1 to create a joint venture with POSCO Chemical. The automaker expects to execute definitive agreements soon, likely by the first quarter of next year, says Doug Parks, GM’s executive vice president of global product development, purchasing and supply chain.