General Motors is Setting up a Second Electric Vehicle Battery Plant in America

General Motors is looking to build a second battery plant in the US with South Korean battery partner LG Chem, citing people with knowledge of the company's plans, the Wall Street Journal reported. The two companies are close to reaching an agreement to build a new electric vehicle battery plant in Tennessee. The automaker announced in October 2020 that it would invest $ 2 billion in its Spring Hill, Tennessee manufacturing plant to build a fully electric vehicle. Last year, GM said its joint venture battery factory with LG Chem would generate battery cell costs of under $ 100 / kWh, the automaker said, about 40% less than they are currently incurring. The new battery cells will use a patented low cobalt chemical, and increased production will help reduce costs even further.