LG and General Motors are going to Invest $ 2.3 Billion to Build Battery Plant for EV

LG Energy Solutions and the General Motors Ultium Cells LLC joint venture today announced an investment of more than $ 2.3 billion to build a second EV battery cell manufacturing plant in the United States that will be located in Spring Hill, Tennessee. Construction of an approximately 2.8 million square foot EV battery plant is about to begin, GM said. Ultium Cells will build an EV battery plant on land leased from GM. The car manufacturer owns more than 2,000 hectares of land around the factory. The new battery cell factory will create 1,300 new jobs. Construction of the approximately 2.8 million square feet facility will begin soon, GM said, and the plant is expected to open by the end of 2023. The state-of-the-art Spring Hill plant will use advanced manufacturing processes to produce battery cells more efficiently, with less waste, according to GM. It's also designed to be flexible enough to accommodate new advances in EV battery technology. The new battery plant is part of GM's mission to reduce battery costs through economies of scale.