General Motors and POSCO Chemical have a joint venture to construct a factory in North America to process battery materials for GM’s Ultium platform. The factory at the center of the joint venture will process Cathode Active Material, a key battery material that represents around 40 percent of the cost of a battery cell.
The new facility will supply Ultium Cells to a pair of facilities GM and LG Energy Solution are currently developing in Lordstown, Ohio and Spring Hill, Tennessee. Two more U.S.-based Ultium cell plants are planned by 2025. While the location of the new factory has not yet been confirmed, the companies are presently targeting an opening date in 2024.