General Motors Co. GM, +0.66% has announced a new supply agreement with Element 25 Ltd. E25, +5.00% . whereby Element 25 will provide up to 32,500 metric tonnes of manganese sulfate per year. Manganese sulfate is needed to support GM in its production of over a million electric cars in North America. As part of this agreement, GM is providing Element 25 a $85m loan to build a new Louisiana facility that will produce battery-grade manganese sulfate beginning in 2025. Doug Parks is the executive vice president for global product development and purchasing at GM. He said that GM’s direct investments in raw materials, processing, and components used in EVs will provide certainty of supply and favorable commercial terms, as well as thousands of new job opportunities, particularly in North America, Canada, and countries with free trade agreements like Australia. GM stock has gained 7.3% in the last three months, up to Thursday. The S&P 500 SPX, +0.05% is up 9.5%.