General Motors forms joint venture with Ultimatum Cells battery firm
20 May, 2020
General Motors and LG Chem recently announced the formation of a new joint-venture to produce lithium ion cells for electric vehicles.
The two companies are investing US$2.3bn into Ultium Cells LLC and site work has begun for the factory to be constructed near Lordstown, Ohio.
Production capacity is expected to be approximately worth 30 GWh annually.
When production is up to speed in 2023, it will consist of enough cells to produce more than 330,000 vehicles with an average of 90 kWh per vehicle.