GM plans to establish a battery factory with LG: a total investment of 2 billion US dollars
According to the report, General Motors is considering investing in two electric vehicle-related projects in Michigan, with a total investment of more than $3 billion.
Accelerating of electrification
It is understood that one of the projects is to upgrade the Orion assembly plant in Detroit into an electric pickup plant. Another project is to form a joint venture with battery partner LG.
The two parties plan to spend a total of US$2 billion to build a battery factory in Lansing, Michigan’s capital, which is expected to create about 1,200 jobs.
GM & LG establish a battery factory : investment 2 billion USD
Previously, General Motors announced that it plans to stop production of all fuel vehicles in 2035, and its auto brands are fully shifting to the development and manufacturing of electric vehicles.
Prospect
At the same time, by 2030, GM’s plants in the United States will fully use renewable energy, and factories in other parts of the world also require this goal to be completed by 2035.
Earlier this year, Chevrolet Bolt EV equipped with LG batteries caused frequent fire accidents. GM had to recall the car on a large scale and announced an indefinite suspension of sales.
However, the matter has now been completely resolved, and Bolt EV production has been fully restarted. LG assumes full responsibility for the incident and will pay GM US$2 billion.
It seems that the fire did not affect the cooperative relationship between GM and LG.
