GM and LG Chem to build $2.3 billion electric vehicle battery plant

by SpeedLux
LG Chem logo

General Motors and South Korea’s LG Chem stated on Thursday they will invest $2.3 billion to construct an electric vehicle battery cell joint venture plant in Ohio, forming one of the world’s largest battery facilities.

The plant, to be constructed near GM’s closed assembly plant located in Lordstown in northeast Ohio, will employ over 1,100 people, the companies stated. Construction is to start in mid-2020 and the plant will have a yearly capacity of over 30 gigawatt-hours with the flexibility to expand.

At a media briefing, GM CEO Mary Barra stated the 50-50 joint venture with LG Chem is intended at “dramatically enhancing electric vehicle affordability and profitability.”

Barra stated the Ohio battery plant will speed up the automaker’s initiative to introduce 20 new electric vehicles worldwide by 2023.

“General Motors believes in the science of global warming and believes in an all-electric future,” she added.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More