LG Energy and General Motors will establish a fourth joint venture battery plant in the United States

Image source: businesskorea

LG Energy Solution and General Motors (GM) plan to build their fourth joint venture battery factory in the United States this year.

According to businesskorea, GM President Mary Barra said in a recent Q4 2021 (October to December) results conference call: "GM and LG Energy will soon announce plans to build a fourth joint venture battery plant in the United States. Ultium Cells, a battery joint venture between the two companies, will disclose the location of its fourth battery plant in the first half of 2022. ”

It is reported that in January this year, LG Energy confirmed the establishment of a third joint venture factory in the United States, and the fourth factory will increase the battery production capacity of Ultium Cells to 160GWh.

LG Energy sources said: "There is no specific plan yet. Based on the recent growth of the electric vehicle market and the strong demand for GM electric vehicles, the two companies are continuing to discuss options to strengthen cooperation such as the establishment of a fourth plant. ”

(Proofreading/Yuki)