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General Motors and LG plan to build a new $2.3 billion plant to build batteries for electric vehicles

General Motors and LG 1st announced the joint venture in December 2019

General Motors and LG plan to build a new $2.3 billion plant to build batteries for electric vehicles

Detroit, April 19 - Neftegaz.RU. The American carmaker General Motors and South Korea’s LG Chem will invest $2.3 billion in a 2nd U.S. battery cell plant for electric vehicles.
The companies already have another EV battery plant under construction in Ohio, which is set to open in the 1st quarter of 2022.

The new plant in Tennessee is scheduled to open in late 2023, will create 1300 jobs and construction is set to begin immediately.
The joint venture Ultium Cells will build the plant, which is expected to cover more than 2.8 million square feet.

The decision to build the plant is another step in General Motors transformation into a serious EV player.
General Motors plans to sell only emissions-free cars by 2035.
The company´s CEO Mary Barra said:
  • The addition of our 2nd all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future
LG Energy Solution CEO Jong Hyun Kim said:
  • The new facility will allow the companies to build solid and stable U.S.-based supply chains that enable everything from research, product development and production to the procurement of raw components
  • I truly believe this coming together transcends a partnership as it marks a defining moment that will reduce emissions and help to accelerate the adoption of EVs
According to General Motors, the battery plant will use «the most advanced and efficient battery cell manufacturing processes».
These new batteries will use less of the rare earth material cobalt and feature a single common cell design that can be configured more efficiently for higher energy density and a smaller space than current General Motors batteries.

To read the full story in Russian

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