General Motors and LG Chem recently announced their plans to mass-produce battery cells for future battery-electric vehicles, committing to an investment of up to $2.3 billion as an equally owned joint venture company.
The new joint venture company intends to put up a state-of-the-art battery cell assembly plant in Northeast Ohio and is projected to generate over 1,100 new jobs. Additionally, the plant is expected to use the latest manufacturing processes to efficiently assemble battery cells producing minimal waste
"With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions," GM Chairman and CEO Mary Barra said in a press conference announcing the joint venture. "Combining our manufacturing expertise with LG Chem's leading battery-cell technology will help accelerate our pursuit of an all-electric future. We look forward to collaborating with LG Chem on future cell technologies that will continue to improve the value we deliver to our customers."
The groundbreaking is expected to happen sometime in mid-2020.