A partnership between South Korean LG Energy and General Motors is expected to help feed the electric vehicle revolution, as the companies jointly plan an additional electric vehicle battery plan through their common project Ultium Cells.
Reuters reports the two firms will invest $2.1 billion in the new plant. For reference, Ultium already has plants in Ohio and Tennessee, following a successful IPO for LGES, which holds 20% of the battery market and supplies big companies like Tesla and Volkswagen.
“(LGES) is already building two plants with GM in Ohio and Tennessee to manufacture 70 GWh of batteries, which could power about 1 million EVs by 2024,” writes an unnamed Reuters staffer. “LGES has production sites in the United States, China, South Korea, Poland and Indonesia.”
The Lordstown, Ohio factory is almost done – a piece by BB details a flyover video showing the completed building. That plant is expected to generate 30 GW per hour annually.
Elsewhere in domestic production, Ford is also working on a similar project.
“Other manufacturers, including Ford and Stellantis, are also engaged in battery gigafactory joint ventures in the U.S.,” writes Mark Kane at Inside EVs. “Manufacturers in Europe also appear to prefer this type of business model, which gives them more control over the battery supply.”
Battery innovation is going to be a major part of switching over the massive automotive sector from gasoline engines to electric motors, a trend that seems to be accelerating as the New Year comes on.
“Ford is expected to ship its 2.5 litre Maverick Hybrid to pre-booked customers in January,” writes John Bleasby at Daily News in a piece suggesting that while EVs are coming, people still like the gasoline engine. “The Maverick claims a combined city and highway mileage of 37 miles per U.S. gallon, which Ford says is better than a four-cylinder, 1.5 litre 2022 Honda Civic. Meanwhile, more than 120,000 customers are waiting for their electric Ford F-150 Lightning to arrive. The Lightning packs more power than the Maverick Hybrid, with 563 horsepower, a 2000-pound payload and a 10,000-pound towing capacity. General Motors will debut its Electric Silverado pick up at the Consumer Electronics Show in January. There’s no announcement on price, but its full-charge range is said to be 400 miles.”
Watch for more change in 2022.
