Biden gives GM and LG a $2.5B loan to build 3 battery factories in 3 states
The Biden administration today announced that it’s closed a $2.5 billion loan for Ultium Cells, a joint venture between GM and South Korean battery maker LG Energy Solution. The loan will go toward financing the construction of new lithium-ion battery cell factories in Ohio, Tennessee, and Michigan.
Expand Expanding CloseUltium Cells $275M investment will boost battery cell output for GM EVs by 40%
Ultium Cells will invest $275 million in its Spring Hill, Tennessee, battery plant to expand EV battery cell output by 40%. The new expansion will help fuel GM’s aggressive EV strategy as it ramps production.
Expand Expanding CloseGM confirms $2.3 billion investment with LG in battery cell gigafactory in Tennessee
GM has confirmed a $2.3 billion investment in partnership with LG Energy Solutions to build a new battery cell gigafactory in Tennessee.
Expand Expanding CloseGM is about to announce a second massive battery cell gigafactory in US with LG
GM is about to announce a new massive battery cell gigafactory in the US in partnership with LG Energy Solutions, according to industry sources.
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