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© General Motors Electronics Production | December 06, 2019

General Motors, LG Chem partner in Ohio

General Motors and LG Chem have announced plans to form a joint, equally-owned company to mass-produce electric vehicle battery cells.

According to a press release, the two companies plan to develop and produce advanced battery technologies through the investment of up to USD 2.3 billion for a battery cell assembly plant on a greenfield manufacturing site near Lordstown, Ohio. Groundbreaking on the plant, which will eventually result in more than 1,100 new jobs, is expected in mid-2020. Benefits to LG Chem include the vertical integration of battery cell manufacturing in the U.S and a dedicated production stream of future EVs from GM’s next generation of battery-electric vehicles, including a battery-electric truck scheduled for fall 2021. LG Vice Chairman and CEO Hak-Cheol Shin said, “Our joint venture with the No. 1 American automaker will further prepare us for the anticipated growth of the North American EV market, while giving us insights into the broader EV ecosystem. Our long-standing history with General Motors has proven our collective expertise in this space, and we look forward to continuing this drive for zero emissions.” This JV, along with the recent sale of GM’s manufacturing complex to Lordstown Motors Corp. for the production of battery-electric trucks, situates Northeast Ohio and the Mahoning Valley as a major hub for technology and electric vehicle manufacturing. GM Chairman and CEO Mary Barra said, “With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions. Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future. We look forward to collaborating with LG Chem on future cell technologies that will continue to improve the value we deliver to our customers.”
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June 09 2020 11:27 am V18.6.11-2