General Motors has agreed with Brazilian mining giant Vale SA to supply nickel for batteries in future electric cars starting in 2026. The automaker aims to reduce the cost of its Ultium battery cells to less than $70 per kWh by the middle or end of the decade, as the company expects competition in the electric-car market to intensify after 2025. The industrial average cost of cells with nickel-based cathodes is now $140 per kWh.