General Motors Forms Partnership With Lithium Battery Recycling Company Lithion

$General Motors(GM.US)$ has formed a partnership with lithium-ion battery recycler Lithion Recycling as part of the automaker's bid to secure lithium supplies, a key ingredient for electric vehicle batteries, the companies said Thursday.
The partnership with Lithion "is yet another step in the right direction" for GM's strategic growth plans, according to Wedbush Securities. "Similar to Tesla's recent efforts to develop a lithium refinery factory, GM's strategic move is yet another example to the transformation actively underway in the industry, as the EV arms race continues and companies battle it out to vertically integrate and keep costs lower in this environment," Analyst Daniel Ives said in a note.
$General Motors(GM.US)$ $Tesla(TSLA.US)$ $Lithium Battery(BK2552.US)$