General Motors and LG Energy Solutions will focus on producing three EV battery factories in the United States, which comes from their recent grant of a $2.5 billion loan from the US Department of Energy. The locations would focus on new battery factories that would bring lithium-ion power cells for the company's EVs, soon to distribute for its needs.
GM, LG to Bring 3 Battery EV Factories from $2.5B Loan
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DETROIT, MI - SEPTEMBER 17: The General Motors logo on the world headquarters building is shown September 17, 2015 in Detroit, Michigan.
A report by Electrek claimed that GM and LG Energy Solutions had already chosen its locations for the EV battery factories that would help in manufacturing and delivering its needs. The three sites include Warren, Ohio, which will soon have 700 workers and begin its manufacturing by August; Tennessee, with a 2023 start date; and Michigan, which will begin by 2024.
According to Reuters, the total costs for the plant will be investing more than $7 billion in its battery efforts, and it will use the Department of Energy's $2.5 billion loan to help its production needs. The batteries would help in giving GM a chance to output one billion vehicles per year, starting in 2025, says the reports.
Read Also: GM Receives Joint Venture Loan for $2.5B on Battery-Cell Production from US Energy, Previously Tesla
US Energy's Loan to GM Already Sees Application
The US Department of Energy's loan already sees applications from GM and LG's ventures that will soon start its ventures.
The three plants would be focusing on bringing the world more EVs from GM, fitted with LG's batteries that will provide it power and mobility under its Ultium cell technology from General Motors.
GM's EV Manufacturing and LG's Batteries
General Motors is a significant company in the transition to electric vehicles, and that focuses on bringing the world a chance to get more EVs in the process from known brands present now.
One of the most significant ventures here is the Hummer EV pickup that brings the clean energy version of the adventure vehicle, but its 12 trucks a day production may be a problem for current orders.
On the other hand, LG is a known manufacturer of EV batteries that previously partnered with available brands, notably with Tesla, which currently powers some of its releases. Its focus is the famed million-mile battery, the 4680 power cells that come in at a million-dollar investment to focus on its production.
General Motors and LG Energy are the latest partners there is to the EV industry, and it focuses on giving the world more EVs which massively relies on battery production as well. It is known that EVs rely on electric power from batteries, and without their power cells, they cannot bring the vehicle its functions and features available for all.
Related Article: GM EV Mass Production 2025: Long-Term LG Chem Cathode Material, Livent's Lithium Supplies Now Secured
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Written by Isaiah Richard
