LG Energy Solution and GM to erect a $2.1 billion battery factory in U.S.

South Korea’s LG Energy Solution (LGES) will collaborate with General Motors (GM) to erect a $2.1 billion electric vehicle (EV) battery plant in the U.S.

LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture.

The plant will be their third joint battery plant in the United States, LG Chem’s regulatory filings showed.

GM and LGES had partner on building a proposed $2.5 billion battery plant in Michigan.

LGES is already building two plants with GM in Ohio and Tennessee to manufacture 70 GWh of batteries, which could power about 1 million EVs by 2024.

LGES has production sites in the United States, China, South Korea, Poland and Indonesia.

General Motors
General Motors

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