GM, LG to Invest $2.3 Billion in EV Battery Plant
Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, will invest $2.3 billion in building its second battery cell manufacturing plant in the United States.
The facility - which is scheduled to open in late-2023 - will be located in Spring Hill, Tenn. Once operational, it will supply battery cells to GM’s Spring Hill, Tenn., assembly plant.
“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,” says GM Chairman and CEO Mary Barra.
“The support of the state of Tennessee was an important factor in making this investment in Spring Hill possible and this type of support will be critical moving forward as we continue to take steps to transition our manufacturing footprint to support EV production.”
GM says the "Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials."
GM’s proprietary Ultium battery technology "is at the heart of the company’s strategy to compete for nearly every EV customer in the marketplace, whether they are looking for affordable transportation, luxury vehicles, work trucks, commercial trucks or high-performance machines."