General Motors and LG Chem announced plans to invest over $2 billion in mass-produced battery cells for future electric vehicles.
The companies will invest a total of $2.3 billion in a joint venture battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio. That new facility will create more than 1,100 new jobs.
The facility will feature an advanced manufacturing process and will leverage the companies’ battery science to develop and product advanced battery technology with the goal of reducing battery costs for future cars. Ground breaking of the facility will take place in mid-2020.
The collaboration will form a dedicated production stream of future electric vehicles for GM’s existing and future line of EVs, including a new battery-electric truck coming in the fall of 2021.
“Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future,” said Mary Barra, chairman and CEO of GM.
GM previously invested $28 billion in a Warren, Michigan battery lab that was announced late last year. Earlier this year, the company also announced $700 million in Ohio manufacturing investments, slated to create 450 jobs in Toledo, Parma and Brookville.
