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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.

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GM Energy expands beyond the automaker’s EV business with Ultium Home and Commercial services

GM Energy

General Motors has announced a new business unit to expand outside of its current portfolio of EVs and charging network. The new energy management services business is called GM Energy and will consist of Ultium Home and Ultium Commercial, in combination with the previously existing Ultium Charge 360.

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GM begins US Ultium battery production for Hummer EV in Ohio amidst union pushback

GM battery US ultium cells lordstown warren render

GM has officially begun Ultium EV battery production in the US as part of its $2.3 billion joint venture with LG Energy Solution. The JV’s 2.8-million square foot facility in Ohio is now assembling battery packs for the GMC Hummer EV, but remains hush on what other EVs in the GM family will receive them. Meanwhile, the American automaker continues to work through disputes as its battery factory employees look to unionize.

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GM adds Plug and Charge to EVgo Ultium Charge 360, vehicles including Bolt

GM Plug and Charge

This is big. General Motors (GM) has announced that it is adding Plug and Charge capabilities to its Ultium Charging 360 network of charge providers across North America and across its line of Bolt, Hummer and Cadillac Lyriq EVs.

To begin, drivers with an EVgo account will be able to utilize the convenience of Plug and Charge before GM expands the technology to additional charging networks across its Ultium Charge 360 family.

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GM announces its largest investment ever, $7 billion, toward an EV production capacity over one million units by 2025

GM EV Production

Fresh off recent battery production news, General Motors (GM) is investing further into its US EV production, particularly in Michigan. In fact, the American automaker has announced a sum of $7 billion, its largest single investment in its 113 year history. The premium investment will be used overhaul EV and battery cell production, thus creating 4,000 new US jobs.

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GM to construct North American materials processing factory for Ultium EV batteries

GM EV batteries

General Motors announced a joint venture alongside POSCO Chemical to erect a new factory in North America to process Cathode Active Material (CAM). CAM will be vital to GM’s production of its proprietary Ultium EV batteries, as the legacy automaker looks to establish a larger presence in US EV production.

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