Press Release   -

NMG Secures Major Deals with Panasonic Energy and GM: USD 87.5M Investment for Sustainable EV Battery Supply

Nouveau Monde Graphite (NMG) has inked substantial deals with industry giants Panasonic Energy and General Motors, marking a significant stride in the electric vehicle (EV) battery supply chain. These strategic collaborations are complemented by substantial equity investments, with Panasonic Energy and GM injecting US$50 million each into NMG to bolster Phase 2 development. Moreover, long-time investor Pallinghurst and strategic partner Mitsui have contributed US$37.5 million, demonstrating widespread confidence in NMG's trajectory. 

Under multiyear offtake agreements, NMG will supply active anode material, covering 85% of its Phase-2 production. Panasonic Energy's commitment, stemming from a memorandum of understanding in October 2022, spans seven years and entails an annual supply of 18,000 metric tons of this crucial material. Likewise, General Motors has secured a six-year yearly supply agreement for the same volume, cementing NMG's pivotal role in supporting the burgeoning EV market.

NMG's carbon-neutral graphite material aligns with Panasonic Energy's sustainability goals, aiming to slash its carbon footprint by 50% from 2022 levels by 2031. This environmentally conscious approach underscores the industry's collective commitment to greener practices. The alignment between Japan and Canada through a Memorandum of Cooperation (MoC) on battery supply chains further strengthens the strategic backdrop. This collaboration enhances Panasonic Energy's outreach in North America, leveraging locally sourced materials to meet the global demand for EVs.

The expansion of NMG's production facilities in Bécancour, Quebec, alongside GM's Ultium cathode processing facility, epitomizes the integration of key players in the EV supply chain. This synergy promises a robust and sustainable future for EV battery production.

In parallel, market analysts at Vantage Market Research foresee exponential growth in the EV battery market, driven by technological innovations and investments. The sector is poised to witness a double-digit growth rate, reaching a staggering USD 475 billion by 2032, fueled by the escalating demand for zero-emission vehicles and the steady decline in EV battery costs.

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.