GM EV Plans
December 5, 2019
There’s more evidence electric vehicles will be taking up more space on the road. General Motors has announced a joint venture with Korean chemical company LG Chem, to build a new battery plant. It will be located in the Lordstown area of Northeast Ohio. GM says mass-producing battery cells for future battery-electric vehicles will generate more than 1,100 new jobs.
As is usually the case in these kind of deals, the partners bring specific strengths to the table with the hope of reducing costs. GM Chairman and CEO Mary Barra says, “Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future.” That future includes an all-new battery-electric truck coming in the fall of 2021. GM already produces the all-electric Chevrolet Bolt. When it arrived for 2017, the Bolt was the first non-Tesla EV to offer more than 200-miles of range, and was available for under $30,000 with tax incentives.
Groundbreaking for the new battery plant in Michigan is expected to take place in mid-2020.