General Motors Co. GM +2.17%, and mobility battery maker Posco Future M announced Friday that they plan to expand the electric car battery supply chain in North America by building a new facility that will produce Cathode Active Material (CAM), a key material for batteries that makes up about 40% of a cell’s cost. Most CAM and pCAM (a specially engineered combination raw materials required to make CAM) are currently made in Asia. In a joint announcement, the companies stated that they expect to invest more than $1 billion. The CAM joint-venture is expected to support the production of approximately 360,000 Chevrolets, Cadillacs, GMCs, Buicks and BrightDrops annually between 2025-2030 in North America. The statement said. Doug Parks is GM’s executive vice president of global product development and purchasing, supply chain. We have worked through the entire supply chain of batteries, from raw material recovery to the end. We are building higher levels vertical integration to drive expanded investment, and help create jobs in North America. GM stock rose 1.3% premarket but has declined 1.8% year-to-date, while the S&P500 SPX +0.99% gained 10%.