GM on Wednesday announced plans to form a joint venture with South Korea’s POSCO (005490.KS) to build a battery cathode materials plant in North America by 2024. The deal is part of the automaker’s long-range plan to carefully construct a proprietary, vertically integrated EV machine that it will fully turn on only when costs fall and demand grows in the second half of the 2020s…

On Friday, Ford will elaborate on its markedly different EV strategy. It plans to quickly launch several higher-volume models such as the Mustang Mach-E and the F-150 Lightning, using modified combustion vehicles. Ford will follow up in the middle of the decade with a broader portfolio of electric SUVs and trucks, designed from the ground up to run on batteries…

Despite their activity, both Detroit automakers are expected to lag well behind EV market leaders Tesla and VW through 2028, according to data provided by AutoForecast Solutions, whose production estimates are widely used across the industry.
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