General Motors and LG Chem announced plans to mass-produce battery cells for future battery-electric vehicles. Together, the companies will invest up to a total of $2.3 billion through a new, equally owned joint venture company.
The JV will establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast 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 plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. The collaboration also includes a joint development agreement that brings together two leaders in battery science to develop and produce advanced battery technologies, with the goal of reducing battery costs to industry-leading levels.
In addition to vertically integrating the manufacturing of battery cells in the U.S., LG Chem will gain access to an experienced workforce. It will also benefit from a dedicated production stream of future EVs from GM’s next generation of battery-electric vehicles, including an all-new battery-electric truck coming in the fall of 2021.
