GM and LG Plan Second U.S. EV Battery Plant for $2.3 Billion
Earlier this year, we reported that General Motors (GM) was considering a second battery plant in the US, and the company has now made a firm decision.
GM and South Korean electronics manufacturer LG Chem announced plans Friday to invest over $2.3 billion (USD) to establish a second battery cell plant in Tennessee, according to CNBC. The plant will also produce GM’s upcoming Cadillac Lyriq crossover, as well as other EVs at a separate, nearby assembly plant.
GM Tests Autonomous Vehicles on Newly Completed Track in Canada https://t.co/be6YOkDr5B
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The plant will be for the Ultium Cells LLC joint venture between GM and LG and will begin construction immediately, while the joint venture’s original factory in Lordstown, Ohio is also still under construction. The plant is scheduled to open in late 2023 and is expected to create up to 1,300 jobs, according to the companies.
In a press release, GM CEO Mary Barra said, “The addition of our second 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.”
US President Joe Biden recently put out a plan to increase EV adoption, with $174 billion total (USD) dedicated to improving various elements of US infrastructure. President Biden also ordered a review of the US EV supply chain, amidst a global semiconductor shortage, which remains ongoing.