General Motors and LG Chem has revealed plans to mass-produce battery cells for future battery-electric vehicles. Together, the companies will invest up to a total of US$2.3bn through a new, equally owned, joint-venture company.
The joint venture will establish a battery cell assembly plant in Lordstown, Ohio, that will create more than 1,100 new jobs. The state-of-the art plant will use the most advanced manufacturing processes all under one roof to produce cells efficiently.
The collaboration also includes a joint-development agreement to develop and produce advanced battery technologies, with the goal of reducing battery costs to industry-leading levels.
“Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future,” said GM chairman and CEO Mary Barra. “We look forward to collaborating with LG Chem on future cell technologies that will continue to improve the value we deliver to our customers.”