GM Chairman and CEO Mary Barra said Thursday morning that the automaker is forming a joint venture with LG Chem to mass produce battery cells for its electric vehicles.
The two companies said they will invest up to a total of $2.3 billion into the new joint venture that will include establishing a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs.
“With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions,” Barra said. “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.”
