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GM said the investment will help support electric-vehicle eligibility for consumer incentives under new, clean energy U.S. tax credits. GM said the nickel laterite ore is expected to be processed using a new, proprietary process that helps reduce waste. Under a law passed in August, automakers must source battery minerals from countries with free trade agreements in order to qualify for the U.S. consumer EV tax credits.
The GM investment is to assist in the development of its proposed Townsville Energy Chemicals Hub (TECH) Project in Northern Australia. High-grade nickel laterite ore will be imported from nearby New Caledonia, GM said.
