Micron, General Motors Sign Long-Term Supply Agreement for Automotive Memory Chips on July 1

Micron Technologies and General Motors announced on July 1 the signing of a long-term strategic supply agreement, establishing a partnership to ensure stable supply of memory and storage semiconductors for GM's future vehicle production. The agreement covers LPDDR, NOR Flash, and UFS NAND products, with both companies jointly developing next-generation automotive memory technologies to support software-defined vehicles, AI-powered applications, and advanced driver assistance systems.

According to S&P Global Mobility data, DRAM prices have surged approximately 70% since December of last year as artificial intelligence data center investments drive global memory demand. The partnership aims to strengthen supply chain resilience amid rising semiconductor costs, with production supported by Micron's expanded U.S. manufacturing operations, including its Virginia facility that began producing upgraded DRAM capacity earlier this year.