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Tag Archives: LG Energy Solution
GM to Sell Lansing Battery Plant to LG Energy Solution
General Motors (NYSE: GM) said today that it has reached a non-binding agreement to sell its stake in the nearly completed Ultium Cells LLC battery cell plant in Lansing, Michigan to its joint venture partner LG Energy Solution.* The transaction is expected to close in the 2025 first quarter, subject to customary closing conditions.
“Our EV profitability is rapidly improving thanks in part to our strategic decision to build battery cells in the U.S. with LG Energy Solution. It will be years before some of our competitors approach this level of performance,” said Paul Jacobson, GM executive vice president and CFO. “We believe we have the right cell and manufacturing capabilities in place to grow with the EV market in a capital efficient manner. When completed, this transaction will also help LG Energy Solution meet demand by leveraging capacity that’s nearly ready to come online and it will make GM even more efficient.” Continue reading
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, LG Energy Solution, Paul Jacobson, prismatic battery cells, X @KenAutoinformed
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Honda, LG Energy Solution Break Ground for New Battery Plant
The location of the joint venture between Honda and LGES was announced on 11 October 2022, and was formally established on 12 January 2023. The plant aims to start mass production of pouch-type lithium-ion batteries by the end of 2025, to be provided exclusively to Honda auto plants to produce EVs to be sold in North America. Continue reading
LG Energy Solution, Honda to Form US EV Battery Production
The two companies want to begin construction in early 2023, in order to enable the start of mass production of advanced lithium-ion battery cells by the end of 2025. The plant aims to have an annual production capacity of approximately 40GWh but the location has not yet been established. Let the taxpayer-financed bidding war on incentives among the states begin. Continue reading
Stellantis, LG Energy Solution JV for Battery Plant in Canada
The new joint venture company will invest more than $5 billion CAD ($4.1 billion) to establish operations, which will include an all-new battery manufacturing plant located in Windsor, Ontario, Canada. Plant construction is scheduled to begin later this year. Production is planned to launch in the first quarter of 2024. Stellantis is Windsor’s largest employer and has a long history there. Chrysler began operations in 1925 and has employed generations of Windsor–Essex workers at its facility. Continue reading
EVs – at $7B GM Makes Largest Announcement in History
“Today we are taking the next step in our continuous work to establish GM’s EV leadership by making investments in our vertically integrated battery production in the U.S., and our North American EV production capacity,” said Mary Barra, GM Chair and CEO. Continue reading
Stellantis, LG Energy JV for North American Battery Production
The batteries produced at the new facility will be supplied to Stellantis assembly plants throughout the US, Canada and Mexico for installation in next-generation electric vehicles ranging from plug-in hybrids to full battery electric vehicles that will be sold under the Stellantis family of brands. Stellantis was created by the merger of Fiat Chrysler , aka FCA, and Peugeot or PSA. Continue reading
GM and LG Energy to Build Second Battery Cell Plant in US
Ultium Cells will build the new plant on land leased from GM. The new battery cell plant will create 1,300 new jobs. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. Once operational, the facility will supply battery cells to GM’s Spring Hill assembly plant. The latest move clearly positions Korean company LG as the key partner in GM’s push for leadership in the growing Electric Vehicle market. Continue reading
Spring Hill to Make Advanced LFP Batteries
“At GM, we’re innovating battery technology to deliver the best mix of range, performance, and affordability to our EV customers,” said Kurt Kelty, VP of batteries, propulsion, and sustainability at GM. “This upgrade at Spring Hill will enable us to scale production of lower-cost LFP cell technologies in the U.S., complementing our high-nickel and future lithium manganese rich solutions and further diversifying our growing EV portfolio.” Continue reading →