GM and LG Partner to Build EV Batteries
We all know GM as the quintessential American automaker responsible for iconic vehicles like the Corvette, Camaro, and some of the most popular pickup trucks in the world. Most people are also familiar with LG, whether it’s for their pioneering work on home appliances like refrigerators and washer/dryer units, their massive presence in the smartphone and television markets, or their charming logo and uplifting slogan, “Life’s good.”
To create what might be one of the most impressive industrial power couples of all time, General Motors recently announced that it and LG Chem — the South Korean behemoth’s chemical division and the tenth-largest chemical company in the world—will soon join forces. Together, the two companies will invest a combined $2.3 billion to construct a brand new factory in Ohio that will manufacture batteries for GM’s upcoming electric vehicles.
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To provide a bit of backstory, GM recently sold off a smaller factory in Lordstown, Ohio, as it transitioned business away from sedans and into the increasingly competitive SUV/crossover market. A GM spokesperson told Car and Driver that the Lordstown facility was shuttered because it wasn’t properly equipped for mass-production of EV batteries, and updating the equipment would be cost-prohibitive.
Beyond signaling General Motors’ commitment to dominating the all-electric vehicle segment, the automaker intends for the LG partnership to provide some 1,100 new jobs in Ohio. Additionally, they hope to undercut major competitors like Tesla in terms of efficiency and power output. While Elon Musk’s “Gigafactory” operates on a yearly energy budget of 20 gigawatt-hours, GM’s estimates are closer to 30 gigawatt-hours.
The ground is set to break on the new plant in mid-2020, and General Motors plans to have 20 all-electric vehicles road-ready and available for purchase by 2023.
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Source: Car and Driver
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