General Motors and LG Chem are looking to build a second battery factory in the U.S. Through a joint-venture company the two firms are already building their first battery plant in Northeast Ohio.
The Wall Street Journal reports a GM spokesperson confirmed that the automaker and LG Chem are aiming for a second battery plant. An official announcement could take place in the first half of this year. The report states the companies are narrowing in on a possible location in Tennessee for the second battery plant. A logical location for the facility would be near GM’s Spring Hill, Tennessee assembly plant. The Spring Hill plant is slated to build the upcoming battery-electric Cadillac Lyriq.
GM and LG are already in the midst of building a $2.3 billion battery factory near GM’s former Lordstown, Ohio assembly plant. This facility is slated to open next year with capacity to supply hundreds of thousands of batteries per year. The second facility is expected to be similar in size and investment.
Unlike other automakers, GM is leveraging in-house battery technology to power its future EV’s. Under the brand Ultium, GM claims its batteries will lower battery costs by nearly 40-percent. The first new model with an Ultium battery will be the 2022 GMC Hummer EV.
GM has also already inked a deal with Honda Motor Company to build electric vehicles for their brands. Ultium batteries will also power GM’s new Brightdrop logistic brand of battery-electric delivery vehicles.
GM has committed to investing $27 billion in electrification and driverless technology through mid-decade. The investment will ultimately yield 30 new EV’s by 2025, most of which are slated for the North American market.