GM, LG Chem to invest $2.3 billion in EV battery joint venture

GM chairman and CEO Mary Barra said Thursday morning that the automaker is forming a joint venture with LG Chem to mass produce battery cells for its electric vehicles, a portfolio that will include a new battery-electric truck coming in the fall of 2021.

The two companies said they will invest up to a total of $2.3 billion into the new joint venture and 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. Groundbreaking is expected to take place in mid-2020.

Click here to read the complete article.

Story excerpt provided by TechCrunch.

Written by Kirsten Korosec.

Originally published December 5, 2019.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: