Treasuries. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. By: Li . Ultium battery cells feature nickel-cobalt-manganese-aluminum (NCMA) chemistry, and will be manufactured by Ultium Cells LLC, a joint-venture of GM and LG Energy Solution. Date. The new plant is likely to be a similar-size investment, the WSJ said. The General Motors . These symbols will be available throughout the site during your session. The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. Electric Vehicle Charging on-site! These symbols will be available throughout the site during your session. My Watchlist. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. Ultium Cells Job Applicant Privacy Statement. GM (GM) said that via the Ultium Cells LLCjoint venture with LG Energy, the car marker is exploring the feasibility of constructing a second state-of-the-art battery cell plant. A decision should be made by the first half of 2021, the US vehicle maker said. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Amount. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ --. The move, which was first reported by the Wall Street Journal, is part of the Detroit car makers strategy to expand its investment in electric vehicles. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. "The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system.". The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system. Ultium Cells expects to have more than 130 GWh of battery cell capacity when all three facilities are at full production capacity later this decade a key enabler to GM's commitment to lead the industry in EVs. AON Board Increases Quarterly Dividend By 11% The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Ultium Cells LLC - Spring Hill, Tennessee plant in brief: General Motors and LG Chem joint venture (50/50) manufacturing of lithium-ion battery cells for electric vehicles; The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. With a 30-year history in the battery business, LG Energy Solution has made consistent, large-scale investments to accumulate enough stability, credibility and manufacturing experience to invent its own cutting-edge technologies. TipRanks->. In 2019, GM announced the formation of Ultium Cells LLC. Ultium has said that hourly workers currently make between $16 and $22 an hour with full benefits, incentives and tuition assistance. $2,500M. * Approximate amount of the loan facility approved at closing including principal and any capitalized interest. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. Written by See General Motors stock analysis on TipRanks, Marvell Shareholders Approve Acquisition Of Inphi, AON Board Increases Quarterly Dividend By 11%, IBM Acquires myInvenio To Enhance Business Processes Automation, Do Not Sell My Personal Information (CA Residents Only). TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. Overall, Wall Street analysts share Jonas bullish outlook on the stock. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Buoyed by the move to construct the new battery cell plant, Morgan Stanleys analyst Adam Jonas reiterated a Buy rating on the stock. GM General Motors and LG Chem have named their joint venture "Ultium Cells LLC." "Ultium" is the name that GM revealed earlier this year when the car company announced its battery. IBM Acquires myInvenio To Enhance Business Processes Automation. We look forward to a positive working relationship with the UAW. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. The analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price.. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Investors. Copy and paste multiple symbols separated by spaces. The Strong Buy consensus rating shows 11 Buys versus 1 Hold. Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle to Operate New Lithium-Ion Battery Recycling Facility Co-Located with Ultium Cells LLC's Battery Cell Manufacturing Plant in Ohio . Take care of yourself and your family with great benefits. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. While some investors view Ultium as copying Tesla Inc (NASDAQ:TSLA), there seems to be only one mission for General Motors to grow. The company established its first research facility in the U.S. in the early 2000s. Type a symbol or company name. Additional $275 million investment and 400 more jobs for Spring Hill, Tennessee battery cell plant will increase battery cell production by more than 40 percent to 50 gigawatt-hours, Production at the 2.8 million-square-foot facility will begin in late 2023. General Motors Reportedly Lays Off Employees in Product Development Domain as Part of C.. Morgan Stanley Upgrades General Motors to Overweight From Equalweight, Boosts Price Tar.. Nomura Adjusts General Motors Price Target to $36 From $39, Maintains Neutral Rating. SPRING HILL, Tenn. Ultium Cells LLC, the battery cell manufacturing joint venture of LG Energy Solution and General Motors, today announced the company is investing an additional $275 million in the Ultium Cells Spring Hill plant to expand the facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. WARREN, Ohio Yesterday, Ultium Cells hosted General Motors, OnStar and the Illinois Fire Service Institute (IFSI) to deliver hands-on training to prepare local community First and Second Responders to operate safely at incidents involving Battery Electric Vehicles. Latest News about Ultium Cells. The facility will be located in Spring Hill, Tennessee. Why GM's Stock . The new factory is located near the old Lordstown plant, and GM has said that it will be staffed with UAW workers and create 1,100 new jobs. Ultium Cells LLC Ultium Cells LLC manufactures battery cells used in electric cars and other electric vehicles. We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. We are looking for talented individuals with diverse skills, experiences, and a can-do spirit to grow with us in Warren, Ohio,Spring Hill, Tennessee, and Lansing, Michigan. On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages. Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the United States. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. Stay up to date with what you want to know. Ultium Cells will provide battery cell capacity to support GM's North American electric vehicle assembly capacity of more than 1 million units by mid-decade, while supporting GM plans to supply other automotive companies and other industries including rail, aerospace, heavy trucking and marine customers. Morgan Stanley analyst Adam Jonas last month maintained a Buy rating on the stock with a $80 price target (54% upside potential) following recent talks with investors, which point to a rising interest in what he calls "the individual 'hidden gems' within" GMs technology and services portfolio, including scalable technologies in electric, connected and autonomous vehicle end markets. dvelopper et amliorer nos produits et services. Gallagher added, We appreciate the support the state of Tennessee, Maury County and Spring Hill has shown Ultium Cells, and that support is playing an important role in making this expansion investment possible in our Spring Hill facility.. SPRING HILL, Tenn. Ultium Cells LLC, the battery cell manufacturing joint venture of LG Energy Solution and General Motors, today announced the company is investing an additional $275 million in the Ultium Cells Spring Hill plant to expand the facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. GM ( GM) said that via the Ultium Cells LLC joint venture with LG Energy, the car marker is "exploring the feasibility of constructing a second state-of-the-art battery cell plant." A. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a. Your browser does not support the video tag. According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. This investment will allow us to provide our customer GM more battery cells faster and support GMs aggressive EV launch plan in the coming years, said Tom Gallagher, Ultium Cells LLC vice president of operations. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. Battery cell production at the 2.8 million-square-foot facility will begin in late 2023. FY . LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. Ultium Cells LLC 6,477 followers 2mo Today, we celebrated the final beam installation at our facility under construction in Lansing, Michigan alongside construction partners and ironworkers! Work for a company making a difference. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. The. In 2010, the company built its first U.S battery plant in Holland, Michigan. -, General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade, Morgan Stanley Says, S&P, Dow edge higher as JPMorgan gains; Fed meet in focus, General Motors Lays Off 'Hundreds' of Product Development Contract Employees. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. Get the latest ride including electric vehicles with Ultium Cells at a discount on General Motors Vehicles. The General. This new investment is in addition to the $2.3 billion investment announced in April 2021. Health Care Benefits start day one! Create your Watchlist to save your favorite quotes on Nasdaq.com. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Ultium Cells is taking the appropriate steps to support GMs plan for more than 1 million units of EV capacity in North America by mid-decade., Ultium Cells will play a critical role in making GMs commitment to an all-electric future a reality, said Tim Herrick, GMs vice president of EV Launch Excellence. Shares declined 1.9% in Thursdays after-market trading. A final selection though hasnt yet been made. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. Jonas has an $80 price target on GM,. Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS, supply its Hydrotec fuel cell power cubes, HUMMER EV SUV and the Chevrolet Silverado electric pickup truck, http://www.prnewswire.com/news-releases/gm-and-lg-energy-solution-investing-2-3-billion-in-2nd-ultium-cells-manufacturing-plant-in-us-301270646.html, GM's zero-emissions technology will extend to fuel cells as the company announced it will. Early conceptual rendering of Ultium Cells LLC battery cell manufacturing facility in Lansing, Michigan. Ultium batteries are unique in the industry because the large-format, pouch-style cells can be stacked vertically or horizontally inside the battery pack. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. GM's proprietary Ultium battery technology is at the heart of the company's strategy to compete for nearly every EV customer in the marketplace, whether they are looking for affordable transportation, luxury vehicles, work trucks, commercial trucks or high-performance machines. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. The plant is to be built by Ultium Cells LLC, a joint venture between the two companies. If our forecasts for the long term growth of the global EV market are even remotely in the ballpark, we believe there will be plenty of room to go around for competing EV supply beyond the likes of Tesla," Jonas wrote in the note. General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio. General Motors shares are up about 41% year to date after a 13.58% pop in 2020. Ultium in April announced a second $2.3 billion U.S.-based battery factory in Spring Hill, Tennessee that is due to open in 2023. They can be arranged in different combinations of flexible modules and battery packs to provide the energy for every segment on the road today, from performance vehicles to work trucks. Copyright 2023 Surperformance. GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Is this your business? 7/26/2022. For more information about LG Energy Solution, please visit https://www.lgensol.com. Tools. Real-time Estimate Cboe BZX In 2010, the company built its first U.S battery plant in Holland, Michigan. DOE closes $2.5B loan for Ultium Cells battery production. Related News The facility will supply battery cells to GMs Spring Hill assembly plant for production of the Cadillac LYRIQ and other GM Ultium Platform-based EVs. An average analyst price target of $68.15 implies 16.08% upside potential to current levels. We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. How do we do this? U.S. Department of Energy LP 101000 Independence Avenue, SWWashington D.C. 20585, New Factories in Ohio, Tennessee, and Michigan Will Create More than 11,000 Good-Paying Jobs and Reduce the Nations Reliance on Other Countries to Meet Increased Demand for Electric Vehicle Technologies, Today the Department of Energys Loan Programs Office (LPO) announced a conditional commitment to Ultium Cells LLC for a $2.5 billion loan to help finance the construction of new lithium-ion (Li-ion) battery cell manufacturing facilities in OH, TN, MI. ETFs. This allows engineers to optimize battery energy storage and layout for each vehicle design. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. Ultium Cells will build the new plant on land leased from GM. GM and LG Energy Solution Investing $2.6 Billion to Build 3rd Ultium Cells Manufacturing Plant in Lansing Ultium Cells team is comprised of some of the finest minds in the automotive and electronics industries, but we are looking for more of those rare individuals. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Additional career opportunities can be found on the Ultium Cells website. Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. Neha Gupta for "During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace," GM said in a statement. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. LORDSTOWN, Ohio - GM continues to advance toward an all-electric, zero-emissions future with the construction of its nearly 3 million-square-foot Ultium Cells LLC battery cell manufacturing facility in Lordstown. GM shares have ballooned 76% over the past six months, as the automaker presented investors with a strategic update on its electric vehicle (EV) vision, which includes more than $20 billion investment over the next 5 years. In December 2022, the Department of Energy announced the closing of a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. December 12, 2022. The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and battery production. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Currencies. [19] [20] Specifications [ edit] Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. 10 Biggest Price Target Changes For Tuesday. Ultium Cells Job Applicant Privacy Statement. The loan was issued in late November 2022 and was announced in December 2022. Sources. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, has announced that it will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Work for a growing company in a growing industry with opportunities to learn and advance. Last Updated December 2022. Costcos 2Q Sales Soar 15% On E-Commerce Boom; Street Is Bullish, Splunks 4Q Results Top Wall Street Estimates; Shares Jump 5.1%, Zynga Snaps Up Echtra Games; Street Says Buy, Do Not Sell My Personal Information (CA Residents Only). Once the symbol of unrepentant gas-guzzling, the Hummer should now pass muster at any Silicon Valley cocktail party with its electric power train and zero tailpipe emissions. [18] Battery materials will be supplied by LG Chem and POSCO Chemical (cathode active materials) and Livent (lithium hydroxide). Once fully operational, the plant will create 1,700 new high-tech jobs to support the production of battery cells for GMs Ultium Platform-based EVs, including the Chevrolet Silverado EV and GMC Sierra EV. Type a symbol or company name. Revenue. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. The cells manufactured by Ultium Cells LLC are large format, pouch-type cells that use a state-of-the-art nickel-cobalt-manganese-aluminum (NCMA) chemistry to deliver more range at less cost. 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. Marvell Shareholders Approve Acquisition Of Inphi Ultium Cells LLC is a joint venture with LG Chem that will mass-produce Ultium battery cells for electric vehicles and create more than 1,100 new jobs in Northeast Ohio. WARREN, Ohio In honor of Breast Cancer Awareness Month, Ultium Cells teamed up with the Joanie Abdu Comprehensive Breast Care Center (JACBCC) in nearby Youngstown, Ohio, to spread awareness and raise money for Joanie's Promise, a program that ensures anyone in the community in need of diagnostic breast care services has access to the best care available regardless of their ability to pay. Type a symbol or company name. Address: 7400 Tod Ave SW Warren, OH, 44481-9627 United States See other locations Phone: Website: www.ultiumcell.com Employees (this site): Modelled Employees (all sites): Actual Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors. Which is why we need a team of forward-thinking folks, ready to seize the opportunity and help us charge into a more sustainable, all-electric transportation future powered by Ultium Cells batteries. 2023 Canjex Publishing Ltd. All rights reserved. Electricity is the future of transportation, powered by battery cells that are designed and manufactured by some of the brightest, most innovative people in the world. All rights reserved. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. SPRING HILL, Tenn. Ultium Cells today welcomed U.S. Treasury Secretary Janet Yellen to its battery cell manufacturing facility under construction in Spring Hill. U.S. Department of Energy. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet,Buick,GMC,Cadillac, Baojunand Wulingbrands. News. Ultium Cells, a joint venture of LG Energy Solution and General Motors, today announced a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. But we understand that it's what's on the inside that counts, with our batteries and our people. We have received election results from the National Labor Relations Board (NLRB) and respect the decision of our Ohio workforce supporting representation by the UAW. 2020 Benzinga.com - Benzinga does not provide investment advice. Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the. Both factories will supply the automaker with the cells needed for . Energy options range from 50 to 200 kilowatt hours, which could enable a GM-estimated range up to 450miles or more on a full charge with 0-60 mph acceleration in 3 seconds1. Li-Cycle Corp. ("Li-Cycle" or "the Company"), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced an agreement with Ultium Cells LLC ("Ultium"), a joint venture of General Motors ("GM") and LG Energy Solution ("LGES"), to recycle up to 100% of the scrap generated by battery cell . Spring Hill, Tenn. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility in Spring Hill, Tennessee, marked a construction milestone today with the final beam installation at what will soon be a 2.8-million-square-foot operation. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. The new battery cell plant will create 1,300 new jobs. Altium Limited (ALU.AX) Stock Price, News, Quote & History - Yahoo Finance U.S. markets open in 15 minutes S&P Futures Dow Futures -17.00(-.13%) -2.80(-0.16%) (-2.54%) Altium Limited (ALU.AX). Round. According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. The greatest wealth in health. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Valuation. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. NOW WATCH: Here's how the million-mile battery could lead to Teslas lasting a lifetime, GM revealed earlier this year when the car company announced its battery technology, Visit Business Insider's homepage for more stories. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. View original content:http://www.prnewswire.com/news-releases/gm-and-lg-energy-solution-investing-2-3-billion-in-2nd-ultium-cells-manufacturing-plant-in-us-301270646.html. Our temperature controlled environment will keep you comfortable all year long. Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. Ultium Cells Hosts Battery Electric Vehicle Training in Partnership With GM, OnStar and the Illinois Fire Service Institute, Ultium Cells Lansing Celebrates Completion of Steel Installation, Holds Topping Out Ceremony, Ultium Cells Welcomes Treasury Secretary Janet Yellen To Spring Hill, Statement from Ultium Cells on Ohio Union Vote, Ultium Cells Job Applicant Privacy Statement. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. mesurer votre utilisation de nos sites et applications. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. The first Ultium-powered model, expected to be out late in 2021, will be a GMC Hummer pickup, reborn as an EV with up to 1,000 horsepower. Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the United States.
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