LG and General Motors to build 2nd factory in US
With around US$2.3 billion
Ultium Cells, the joint venture between LG Energy Solution and General Motors, is planning to build a second factory at Tennessee.
The US$2.3 billion factory will be built in Spring Hill, Tennessee, according to Reuters.
The batteries made in the second factory will be for Cadillac Lyriq electric crossover vehicle that General Motors will begin manufacturing next year, the report said.
Earlier in March, LG Energy Solution had said it will decide on its spending plan for its second factory in the US within the first half of the year.
Meanwhile, Ultium Cells is buildings its first factory in Lordstown, Ohio, with US$2 billion.
The South Korean battery maker is aiming to secure an annual production capacity of 140GWh by 2025.
It is aiming to manufacture both pouch and cylinder batteries.