GM and LG New Energy joint venture battery plant has started production

General Motors and LG Energy Solutions in Ohio to invest 2.3 billion joint venture battery production plant has begun production. It is reported that the Ultium Cells Ohio plant, a battery joint venture between LG and General Motors, was completed in August and fully operational in September. The 2.8-million-square-foot facility is the first of four the joint venture plans to build in the United States, in Ohio, Tennessee, Michigan, and Indiana.

It is understood that the Ohio plant has an annual production capacity of 30 GWh and employs more than 800 people. The company said it was preparing to maximize the plant's utilization, which could be expanded to 40GWh a year, considering hiring more than 1,300 people. Previously, the U.S. Department of Energy planned to provide Ultium Cells LLC with a $2.5 billion loan to help it build three battery plants.

Separately, Ultium Cells is building a $2.3 billion nuclear power plant in Tennessee that will be completed by the end of 2023. Earlier this month, General Motors and LG Energy said they were considering a fourth U.S. battery manufacturing plant in New Carlisle, Indiana, at an estimated cost of about $2.4 billion.

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