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Posted : 2021-04-15 09:59
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A joint venture between South Korean battery maker LG Energy Solution Ltd. and U.S. automaker General Motors Corp. will build its second battery factory in Tennessee to step up production, industry sources said Thursday.
Ultium Cells, a joint venture between LG and GM, has picked a site in Tennessee for their second electric vehicle (EV) battery plant, which will be similar in scope to its $2.3 billion Ohio plant, according to sources familiar with the matter.
The two companies will jointly announce the investment plan on Friday, they noted.
LG Energy Solution, wholly owned by LG Chem Ltd., said last month it plans to invest more than 5 trillion won (US$4.5 billion) to expand U.S. battery production capacity by 2025, including a scheme to build at least two new plants.
A joint venture between South Korean battery maker LG Energy Solution Ltd and US automaker General Motors will build its second battery factory in Tennessee to step up production, industry sources said on Thursday.Ultium Cells, a joint venture .
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BIDEN’S NAMES CYBER LEADERS: President Biden on Monday rolled out a slate of key leaders to head his administration’s approach to cybersecurity, including nominating Chris Inglis, the former deputy director of the National Security Agency (NSA), as the national cyber director at the White House.
Trailblazing role: Inglis will be nominated to serve in the newly created cyber czar position on the same day Biden will nominate Jen Easterly, another former NSA official, to serve as the director of the Cybersecurity and Infrastructure Security Agency (CISA), the nation’s lead agency involved in protecting critical infrastructure from attacks.