. Advanced Technology Vehicles Manufacturing, U.S. Department of Energy Announces $2.5 Billion Loan to Ultium Cells for Three Domestic Battery Cell Manufacturing Facilities, LPO Offers Conditional Commitment for Loan to Build New EV Battery Cell Manufacturing Facilities in Ohio, Tennessee, Michigan, Lordstown, OH; Spring Hill, TN; Lansing, MI. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. December 12, 2022. We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. By expanding battery cell output at Ultium Cells Spring Hill, this investment will help GM offer customers the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership., The increased cell production capacity at Ultium Cells will power more EVs in North America, moving toward a greener future," said Charles Oh Young Hyun, president at LG Energy Solution Michigan. LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. Sources. Once the symbol of unrepentant gas-guzzling, the Hummer should now pass muster at any Silicon Valley cocktail party with its electric power train and zero tailpipe emissions. Stay up to date with what you want to know. In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors. Shares declined 1.9% in Thursdays after-market trading. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. [19] [20] Specifications [ edit] The loan was issued in late November 2022 and was announced in December 2022. Zero Emission | Advanced Technology | Ultium Cells LLC General Motors shares are up about 41% year to date after a 13.58% pop in 2020. Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS, supply its Hydrotec fuel cell power cubes, HUMMER EV SUV and the Chevrolet Silverado electric pickup truck, http://www.prnewswire.com/news-releases/gm-and-lg-energy-solution-investing-2-3-billion-in-2nd-ultium-cells-manufacturing-plant-in-us-301270646.html, GM's zero-emissions technology will extend to fuel cells as the company announced it will. Jonas listed Cadillac, Corvette, OnStar, China JVs, GM Hydrotec, GM Financial, Ultium EV batteries and Cruise robotaxis among the businesses, which he named the arms of the "GM SPACtopus." In 2019, GM announced the formation of Ultium Cells LLC. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. But we understand that it's what's on the inside that counts, with our batteries and our people. mesurer votre utilisation de nos sites et applications. Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. Is this your business? Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. The facility will be located in Spring Hill, Tennessee. Sign up for notifications from Insider! SPRING HILL, Tenn. Ultium Cells LLC, the battery cell manufacturing joint venture of LG Energy Solution and General Motors, today announced the company is investing an additional $275 million in the Ultium Cells Spring Hill plant to expand the facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the United States. Valuation. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. LG Energy Solution will employ its decades-long experience in battery technology and manufacturing to produce quality products as we demonstrate our reputation as an industry leader delivering unparalleled consumer value.. The new battery cell plant will create 1,300 new jobs. GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. Ultium Cells Hosts Battery Electric Vehicle Training in Partnership With GM, OnStar and the Illinois Fire Service Institute, Ultium Cells Lansing Celebrates Completion of Steel Installation, Holds Topping Out Ceremony, Ultium Cells Welcomes Treasury Secretary Janet Yellen To Spring Hill, Statement from Ultium Cells on Ohio Union Vote, Ultium Cells Job Applicant Privacy Statement. General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade.. General Motors' Traditional Franchise Can Still Spur Billions of Dollars in Cash Flow, .. GM cuts several hundred full-time contract workers, General Motors Co Says Small Number Of Contractors Have Departed Co - Spokesperson, General motors co says says impacted contractors were notified b, General motors co says small number of contractors have departed. For more information about LG Energy Solution, please visit https://www.lgensol.com. Get the latest ride including electric vehicles with Ultium Cells at a discount on General Motors Vehicles. An average analyst price target of $68.15 implies 16.08% upside potential to current levels. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Lithium cells can produce voltages from around 1.5V (comparable to a zinc-carbon or alkaline battery) to around 3.7V, depending on the design and chemical compounds that were used in the. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. UPDATE 1-GM, LG Energy joint venture Ohio battery plant begins production We are looking for talented individuals with diverse skills, experiences, and a can-do spirit to grow with us in Warren, Ohio,Spring Hill, Tennessee, and Lansing, Michigan. Nous, Yahoo, faisons partie de la famille de marques Yahoo. We call on the ingenuity of our people, the technology behind our ultium battery cell manufacturing and the strengths of LG Energy Solution and General Motors. WARREN, Ohio In honor of Breast Cancer Awareness Month, Ultium Cells teamed up with the Joanie Abdu Comprehensive Breast Care Center (JACBCC) in nearby Youngstown, Ohio, to spread awareness and raise money for Joanie's Promise, a program that ensures anyone in the community in need of diagnostic breast care services has access to the best care available regardless of their ability to pay. Address: 7400 Tod Ave SW Warren, OH, 44481-9627 United States See other locations Phone: Website: www.ultiumcell.com Employees (this site): Modelled Employees (all sites): Actual Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? ULTIUM CELLS | Department of Energy U.S. Department of Energy. These symbols will be available throughout the site during your session. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. -, General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade, Morgan Stanley Says, S&P, Dow edge higher as JPMorgan gains; Fed meet in focus, General Motors Lays Off 'Hundreds' of Product Development Contract Employees. How do we do this? On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages. Marvell Shareholders Approve Acquisition Of Inphi The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. These symbols will be available throughout the site during your session. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. AON Board Increases Quarterly Dividend By 11% Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. All rights reserved. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. (See General Motors stock analysis on TipRanks). News. General Motors : Ultium Cells LLC and Li-Cycle Collaborate to Expand Copyright 2023 Surperformance. Latest news about Ultium Cells - Stock Market - CloudQuote Overall, Wall Street analysts share Jonas bullish outlook on the stock. The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. Date. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. Spring Hill, Tenn. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility in Spring Hill, Tennessee, marked a construction milestone today with the final beam installation at what will soon be a 2.8-million-square-foot operation. When fully operational in 2022, the $2.3 billion Ultium Cells LLC plant in Lordstown will span three million-square-feet, with annual capacity of approximately 35 gigawatt hours. Last Updated December 2022. Altium Limited (ALU.AX) Stock Price, News, Quote & History - Yahoo Finance WARREN, Ohio Yesterday, Ultium Cells hosted General Motors, OnStar and the Illinois Fire Service Institute (IFSI) to deliver hands-on training to prepare local community First and Second Responders to operate safely at incidents involving Battery Electric Vehicles. Ultium Cells is committed to using the most technologically advanced methods in the industry to produce the very best of those battery cells, now and for generations to come. Ditch the brown bag and enjoy lunch in the charging station. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, has announced that it will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. Copy and paste multiple symbols separated by spaces. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways.