The deal, with Norway’s Vianode, is for delivery of a material critical for electric-vehicle batteries.

Key Takeaways GM reached a deal with EV battery materials company Vianode to supply the automaker with synthetic anode graphite.Anode graphite is the largest material by weight in lithium-ion batteries,

General Motors aims to boost EV profitability with its deal with Norway-based graphite manufacturer Vianode for battery materials.

Once Norway's Vianode launches production in North America, the deal will run through 2033. The new plant could be in the U.S. or Canada.

General Motors and Vianode just solidified a multibillion-dollar deal that will push EV battery technology to new heights.

Shares of General Motors Co. rose more than 2% on Wednesday afternoon, on track to mark a third consecutive session of gains as investors reacted positively to the company's latest partnership to strengthen its electric vehicle supply chain.

General Motors has signed a multi-year, multi-billion dollar agreement for Norway's Vianode to provide the U.S. automaker with synthetic graphite anode materials for its electric vehicle batteries, the companies said on Wednesday.