GM And LG Chem To Announce New US Battery Plant For Its Electric Vehicles
General Motors (GM) and LG Chem are set to announce a new battery factory to be located in Spring Hill, Tennessee. The trio of Nikkei, Reuters, and AP reports that the factory will cost $2.3 billion.
This would be the second US battery partnership between the American and South Korean giants. Both GM and LG Chem had in 2019 announced a $2.3 billion battery cell manufacturing plant in Lordstown, Ohio.
According to Reuters, the batteries produced in that plant will be used for the Cadillac Lyriq electric SUV. GM had previously announced that Lyriq will be powered by GM’s new scalable battery architecture called Ultium.
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Ultium based batteries are to offer power ranging from 50 to 200 kWh, which means a driving range of 400 miles or more. GM will also assemble the Cadillac Lyriq at a Spring Hill plant from next year.
This is a huge shift for GM, which at one point was the largest combustible engine automaker in North America. Now it’s working on the production of electric vehicles in order to hit its goal of being a carbon-neutral company by the year 2040. It also plans to halt sales of light-duty diesel and gasoline vehicles by 2035. Part of its moves to achieve the objectives also saw GM announced the retooling of its Detroit-Hamtramck plant to build electric vehicles.
Therefore, a reliable supply line of batteries is hugely instrumental to its goal and future. The company aims to spend $27 billion on the development and production of 30 new electric vehicles by 2025. Consistent with its new objectives, it even redesigned its logo to look more like an electrical plug.
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