Following Lordstown sale, General Motors to build battery cell plant in Ohio
The new facility will employ 1,100 workers through a new joint-venture company with Korea's LG Chem.
It all started with Gran Turismo. From those early PlayStation days, Sean was drawn to anything with four wheels. Prior to joining the Roadshow team, he was a freelance contributor for Motor Authority, The Car Connection and Green Car Reports. As for what's in the garage, Sean owns a 2016 Chevrolet SS, and yes, it has Holden badges.
GM said on Thursday that it will construct a new battery-cell production plant in the Lordstown area with a total of $2.3 billion in investments for the new facility. The automaker won't wholly own the operations, however. GM said it's created a new joint-venture company with South Korea's
Chem to operate the battery-cell production plant. The joint venture will be responsible for the cash injected and this new company will be a 50/50 operation.
The automaker said this will be a "state of the art" facility with the latest technology housed within. It'll also be flexible with the ability to adapt to changes coming as more
begin to roll out of GM factories. It's quite possible these battery cells will power GM's electric pickup truck, slated for a 2021 launch. It's widely speculated this electric truck will bring about the rebirth of the Hummer off-road brand.
The overall goal with this joint venture and new battery plant is to further drive economies of scale and make batteries cheaper to produce. Electric cars haven't yet reached cost parity with the internal-combustion engine and they're often far more expensive than a comparable, traditional vehicle.
GM already waved the investment wand over the state of Ohio earlier this year, pouring $700 million into various facilities across the state. This $2.3 billion investment will be in addition to the previous sum, bringing the announced investment total this year to $3 billion in Ohio.
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