GM plans to form a battery factory with LG: a total investment of $2 billion

According to the news of the Core Research Institute on December 13, GM recently considered investing in two electric vehicle-related projects in Michigan, with a total investment of more than $3 billion. It is understood that one of the projects is to upgrade the Orion assembly plant in Detroit into an electric pickup truck factory.

Edited by the Institute of Core Research

Another project is a joint venture with battery partner LG, which plans to spend a total of $2 billion to build a battery factory in Lansing, Michigan's capital, which is expected to create about 1,200 jobs. Previously, GM announced plans to stop all fuel vehicles in 2035, and its car brands will fully shift to the development and manufacturing of electric vehicles.

At the same time, by 2030, GM will use renewable energy fully at its U.S. plants, and other factories around the world are required to complete this target by 2035. Interestingly, earlier this year, the Chevrolet Bolt EV equipped with LG batteries was frequently hit by fire accidents, and GM had to recall the car on a large scale and announced an indefinite suspension of sales. The matter has now been completely resolved, and Bolt EV production has been fully restarted, and LG has assumed full responsibility for the incident, paying GM $2 billion. It seems that the fire did not affect the cooperative relationship between GM and LG, otherwise there would be no news of the joint venture between the two to build a battery factory.

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