GM, Samsung Plan New EV Battery Cell Factory in US

General Motors (GM) and Samsung are teaming up to build a new electric vehicle (EV) battery cell factory in the United States. The two companies announced the joint venture on Monday, saying that the new factory will be located in Lordstown, Ohio.

The factory will be operated by a new company called Ultium Cells LLC, which will be 50% owned by GM and 50% owned by LG Chem, a South Korean chemical company. The joint venture was formed last year to develop and produce battery cells for GM's electric vehicles.

The new factory will create more than 1,100 new jobs in the area, according to GM. The company said that the factory will have an annual capacity of more than 30 gigawatt hours, which is enough to power more than 400,000 electric vehicles per year.

"The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future," said GM CEO Mary Barra in a statement.

The new factory is part of GM's plan to invest $27 billion in electric and autonomous vehicles by 2025. The company has said that it plans to launch 30 new electric vehicles globally by 2025, with more than two-thirds of them available in North America.

The joint venture between GM and Samsung is expected to help the companies compete with other EV battery makers, such as Tesla and Panasonic. The companies said that the new factory will use advanced manufacturing processes to produce high-quality battery cells at a lower cost.

The new factory is expected to begin production in 2022, with the first battery cells expected to be delivered to GM's Spring Hill assembly plant in Tennessee.

https://www.lifetechnology.com/blogs/life-technology-technology-news/gm-samsung-plan-new-ev-battery-cell-factory-in-us

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