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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.

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