GM, LG investing $275 million to develop Tennessee EV battery plant

Common Motors and LG Vitality Answer will spend an extra $275 million of their three way partnership battery plant in Tennessee to extend manufacturing by greater than 40%.

The three way partnership, referred to as Ultium Cells LLC, stated Friday that the brand new funding is along with the $2.3 billion introduced in April 2021 to construct the two.8 million-square-foot facility. Manufacturing on the plant is slated to start in late 2023.

Home manufacturing of battery cells in North America is anticipated to be essential for automakers within the years to come back so as to develop their EV footprints and qualify for federal incentives underneath the Biden administration’s Inflation Discount Act.

The brand new funding by GM and LG Vitality is anticipated to extend capability from 35 gigawatt-hours to 50 gigawatt-hours when the plant is totally operational.

The Ultium Cells Spring Hill website is anticipated to affix different three way partnership battery cell manufacturing websites in Ohio and Michigan. A facility in Michigan can be underneath building and is anticipated to start manufacturing in late 2024.

“Ultium Cells will play a essential function in making GM’s dedication to an all-electric future a actuality,” stated Tim Herrick, GM’s vice chairman of EV Launch Excellence. “By increasing battery cell output at Ultium Cells Spring Hill, this funding will assist GM supply prospects the broadest EV portfolio of any automaker and additional solidifies our path towards U.S. EV management.”