GM inks up to $4.5B parts-prepayment deal to shore up supply chain

General Motors has struck a multibillion-dollar parts-prepayment deal with Procura Auto Parts to prepay suppliers for rare or critical components, financed by a JPMorgan Chase-led bank syndicate and repaid via IPUs by July 31, 2029. The arrangement keeps inventory off GM’s books and aims to secure future parts amid years of supply-chain disruptions; GM will pay interest, a premium on what’s used, and an annual fee on unused portions, but did not specify which parts are targeted (though semiconductors, rare earths and wire harnesses have been problematic in the past).