and to be honest, I would be surprised if it wasn’t LG that was actually the driving force behind this.
General Motors would’ve obviously gone to LG asking for a guarantee of supply for certain number of years at certain quantities .
LG obviously cannot guarantee that as the raw material input is not secured.
The solution: LG is already an investor previously and offtaker from QPM. LG refer General Motors to QPM for guarantee of supply. QPM say sure, but what’s in it for me? Well you need to invest in the business itself and help accelerate phase two to ensure this gets up as early as possible. The response back from General Motors would be, sure that sounds fair, but I’m not doing that without reviewing your feasibility… They do that for months and seek the relevant approvals from their board before making an announcement.
This has been a while in the making, in fact I would probably say around 12 months all the way back from when LG initially invested
Associated News, page-11
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