LG-GM Joint Venture to Build 2nd Battery Plant in U.S.

  • By Yoon Hyung-jun

    April 16, 2021 11:24

    LG Energy Solution and U.S. carmaker GM will build another electric vehicle battery plant in Tennessee, their second in the U.S.

    The two companies will pour some US$2.3 billion to build the plant through their joint venture Ultium Cells. It will be similar in scale to their first one, which is being built in Ohio.

    The two plants will have a combined annual production capacity of 70 GWh, enough for 1 million high-performance electric cars.

    The two companies had been discussing the project since last year.

    LG Energy Solution, which also manufactures EV batteries at its factory in Michigan, will invest W5 trillion by 2025 to build up production lines and hopes to supply batteries to automakers other than GM (US$1=W1,117).

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