HomeNewsGM, LG investing $275 million to increase Tennessee EV battery plant

GM, LG investing $275 million to increase Tennessee EV battery plant

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Basic Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Middle campus in Warren, Michigan.

Picture by Steve Fecht for Basic Motors

Basic Motors and LG Power Answer will spend a further $275 million of their three way partnership battery plant in Tennessee to extend manufacturing by greater than 40%.

The three way partnership, often called Ultium Cells LLC, mentioned Friday that the brand new funding is along with the $2.3 billion introduced in April 2021 to construct the two.8 million-square-foot facility. Manufacturing on the plant is slated to start in late 2023.

Home manufacturing of battery cells in North America is anticipated to be essential for automakers within the years to come back with a purpose to develop their EV footprints and qualify for federal incentives below the Biden administration’s Inflation Discount Act.

The brand new funding by GM and LG Power is anticipated to extend capability from 35 gigawatt-hours to 50 gigawatt-hours when the plant is totally operational.

The Ultium Cells Spring Hill web site is anticipated to affix different three way partnership battery cell manufacturing websites in Ohio and Michigan. A facility in Michigan can be below building and is anticipated to start manufacturing in late 2024.

“Ultium Cells will play a crucial position in making GM’s dedication to an all-electric future a actuality,” mentioned Tim Herrick, GM’s vice chairman of EV Launch Excellence. “By increasing battery cell output at Ultium Cells Spring Hill, this funding will assist GM supply prospects the broadest EV portfolio of any automaker and additional solidifies our path towards U.S. EV management.”

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