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GM and LG reveal second $2.3bn Ultium EV battery plant
Chris Davies - Apr 16, 2021, 11:53am CDT
GM and LG will build a new electric car battery plant together, the two companies have confirmed today, settling rumors of an expansion of the joint Ultium Cells venture as the automaker tries to maximize production of cheaper EV power packs. The new facility will be in Spring Hill, Tennessee, and see General Motors and LG Energy Solution pump in a further $2.3 billion in investment.
It follows an existing $2.3 billion investment by the pair in a battery production facility in Lordstown, Ohio. Construction there is currently underway, as GM prepares for a rapid uptick in demand across its various brands for batteries.