General Motors and LG Chem Team Up to Advance Toward an All-Electric Future, Add Jobs in Ohio

General Motors and LG Chem Team Up to Advance Toward an All-Electric Future, Add Jobs in Ohio





Download Word DocumentWord  

Share Add This

DETROIT — General Motors (NYSE: GM) and LG Chem currently announced skeleton to mass-produce battery cells for destiny battery-electric vehicles. Together, a companies will deposit adult to a sum of $2.3 billion by a new, equally owned joint try company.

The JV will settle a battery dungeon public plant on a greenfield prolongation site in a Lordstown area of Northeast Ohio that will emanate some-more than 1,100 new jobs.

The state-of-the art plant will use a many modernized prolongation processes all underneath one roof to furnish cells efficiently, with small waste, and will advantage from clever economies of scale via a value chain. The plant will be intensely stretchable and means to adjust to ongoing advances in record and materials.

The partnership also includes a corner expansion agreement that brings together dual leaders in battery scholarship to rise and furnish modernized battery technologies, with a idea of shortening battery costs to industry-leading levels.

This announcement, along with a new sale of GM’s prolongation formidable in Lordstown, Ohio to Lordstown Motors Corp. for a prolongation of battery-electric trucks, positions Northeast Ohio and a Mahoning Valley as a vital heart for record and electric car manufacturing.

“With this investment, Ohio and a rarely able workforce will play a pivotal purpose in a tour toward a universe with 0 emissions,” pronounced GM Chairman and CEO Mary Barra. “Combining a prolongation imagination with LG Chem’s heading battery-cell record will assistance accelerate a office of an all-electric future. We demeanour brazen to collaborating with LG Chem on destiny dungeon technologies that will continue to urge a value we broach to a customers.”

In serve to plumb integrating a prolongation of battery cells in a U.S., LG Chem will advantage entrance to an gifted workforce. It will also advantage from a dedicated prolongation tide of future EVs from GM’s subsequent era of battery-electric vehicles, including an all-new battery-electric lorry entrance in a tumble of 2021.

“Our corner try with a No. 1 American automaker will serve ready us for a approaching expansion of a North American EV market, while giving us insights into a broader EV ecosystem,” pronounced LG Chem Vice Chairman CEO Hak-Cheol Shin. “Our long-standing story with General Motors has proven a common imagination in this space, and we demeanour brazen to stability this expostulate for 0 emissions.”

This investment builds on GM’s $28 million investment in a Warren, Michigan battery lab announced late final year. It is also in serve to prolongation investments in Ohio announced progressing this year totaling approximately $700 million that will emanate about 450 jobs in Toledo, Parma and Brookville, Ohio.

Groundbreaking is approaching to take place in mid-2020.

#  #  #

General Motors (NYSE:GM) is committed to delivering safer, improved and some-more tolerable ways for people to get around. General Motors, a subsidiaries and a corner try entities sell vehicles underneath the CadillacChevrolet, BaojunBuickGMCHolden and Wuling brands. More information on a association and a subsidiaries, including OnStar, a tellurian personality in car reserve and confidence services, Maven, a personal mobility brand, and Cruise, a unconstrained car company, can be found at

LG Chem is Korea’s largest diversified chemical association that operates 4 categorical business portfolios: Petrochemicals, Energy Solutions, Advanced Materials and Life Sciences. The chemical business manufactures a far-reaching operation of petrochemical products from high-value combined to commodity goods. LG Chem also extends a chemical imagination into high-tech areas such as lithium-ion batteries, industrial automotive materials, drugs vaccines to broach extended operation of differentiated solutions for a customers. Throughout mixed prolongation comforts and endless placement network worldwide, LG Chem employs approximately 35,000 people and generated sales of KRW 28.2 trillion in 2018. For some-more information, greatfully revisit

Cautionary Note on Forward Looking Statements.  This press recover competence embody “forward-looking statements” within a definition of a Private Securities Litigation Reform Act of 1995.  We counsel readers not to place undue faith on forward-looking statements. Statements including difference such as “anticipate,” “appears,” “approximately,” “believe,” “continue,” “could,” “designed,” “effect,” “estimate,” “evaluate,” “expect,” “forecast,” “goal,” “initiative,” “intend,” “may,” “objective,” “outlook,” “plan,” “potential,” “priorities,” “project,” “pursue,” “seek,” “should,” “target,” “when,” “will,” “would,” or a disastrous of any of those difference or identical expressions to brand forward-looking statements paint a stream visualisation about probable destiny events. In creation these statements we rest on assumptions and research formed on a knowledge and notice of chronological trends, stream conditions and approaching destiny developments, as good as other factors we cruise suitable underneath a circumstances. These statements are not guarantees of destiny performance; they engage risks and uncertainties and tangible events or formula competence differ materially from these statements. Factors that competence means such differences include, though are not singular to, a accumulation of economic, rival and regulatory factors, many of that are over a control and are described in a Annual Report on Form 10-K for a year finished Dec 31, 2018, as good as additional factors we competence report from time to time in other filings with a U.S. Securities and Exchange Commission. We commence no requirement to refurbish publicly or differently correct any forward-looking statements, either as a outcome of new information, destiny events or other factors that impact a theme of these statements, solely where we are specifically compulsory to do so by law