logo
Plus   Neg
Share
Email

GM Reportedly Evaluates To Build Second Battery Factory In U.S.

General Motors Co. (GM) is evaluating a second location in the U.S. to produce battery cells for electric vehicles with its joint-venture partner, South Korea-based LG Chem, the Wall Street Journal reported citing people familiar with the matter.

The companies reportedly hope to have a decision on the factory in the first half of 2021.

The companies' joint venture Ultium Cells LLC is currently constructing a $2.3 billion battery cell manufacturing facility in Lordstown, Ohio. The manufacturing facility is expected to be completed in 2022. It will eventually supply enough batteries to power hundreds of thousands of vehicles annually.

On Wednesday, General Motors said it extended the downtime at three North American factories and added fourth factory to take downtime, due to ongoing semiconductor chip shortage.

The company extended downtime at San Luis Potosi through the end of March, and at Fairfax and CAMI to at least mid-April. Additionally, GM's Gravatai plant in Brazil will take downtime in April and May.

GM said it has not taken downtime or reduced shifts at any of its truck plants due to the semiconductor chip shortage.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney World, the Orlando, Florida-based entertainment complex, is easing the health safety guidelines that were rolled out to prevent the spread of the ongoing COVID-19 pandemic. The complex is ending temperature checks in a phased manner following the advice of the Centers for Disease Control and Prevention (CDC) and local health officials. Frito-Lay North America, the convenient foods division of food and beverages giant PepsiCo, Inc., is recalling select Ruffles All Dressed Potato Chips citing the possible presence of undeclared milk ingredients, a known allergen, the U.S. Food and Drug Administration said. According to the agency, the recalled products may have distributed regionally to Walmart's Sam's Club Warehouses. Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday that they have initiated the Biologics License Application (BLA) process with the U.S. Food and Drug Administration (FDA) for approval of their mRNA vaccine to prevent COVID-19 in individuals 16 years of age and older. The companies initiated...
Follow RTT