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.

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.

The "multibillion"-dollar deal, according to a news release, covers supply of synthetic anode graphite toward 2033.

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 (GM) has entered into an agreement with Vianode, an advanced battery materials company, to secure a long-term supply of high-performance anode graphite for its EV battery production.

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

The deal runs from 2027, when Vianode expects to begin producing synthetic graphite at a new North American plant, to 2033, according the companies. The material will be used in battery cells manufactured by the Ultium Cells LLC joint venture between GM and battery supplier LG Energy Solution.

Vianode has not revealed the location of the North American plant, but there are strong signs it will be in Ontario