GM, LG Energy Solution Plan Fourth US Battery Plant In Indiana: Reuters

by Shivani Kumaresan, Benzinga Staff Writer

August 19, 2022 7:39 AM | 1 min read | Make a Comment

General Motors Co GM and LG Energy Solution are planning to establish a fourth U.S. battery cell manufacturing plant in Indiana, Reuters reported.
General Motors and LG Energy's joint venture, Ultium Cells LLC, already has three battery cell facilities in the U.S., including Ohio, Michigan, and Tennessee.
Ultium Cells LLC "is developing a competitive business case for a potentially large investment that could be located in New Carlisle, Indiana," the report quoted a spokesperson for the JV.
The fourth plant is expected to have an investment above $2 billion.
Ultium's first U.S battery cell plant in Warren, Ohio is set to begin production in late August.
Price Action: GM shares are trading lower by 1.47% at $38.15 in premarket on the last check Friday.