Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. But we understand that it's what's on the inside that counts, with our batteries and our people. 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. Both factories will supply the automaker with the cells needed for . Valuation. LANSING, Mich. Ironworkers, construction partners and Ultium Cells leadership today celebrated the final beam installation at the Ultium Cells battery cell manufacturing facility under construction in Lansing, Michigan. 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. 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. The analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price.. Ultium Cells will build the new plant on land leased from GM. Most will have 400-volt battery packs and up to 200 kW fast charging capability while GM's truck platform will have 800-volt battery packs and 350kW fast charging capability. Lithium cells can produce voltages from around 1.5V (comparable to a zinc-carbon or alkaline battery) to around 3.7V, depending on the design and chemical compounds that were used in the. Deutsche Bank Adjusts General Motors Price Target to $35 From $37, Maintains Hold Ratin.. Chief Financial Officer & Executive Vice President, CTO, Vice President-Global Research & Development. Round. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. 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 facility's battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the Secure and increase the performance of your investments with our team of experts at your side. The 2.8-million square foot Ultium Cells LLC plant is the first of at . Last Updated December 2022. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. GM and LG Energy Solution are investing $2.3 billion in the joint venture to support EV manufacturing in the U.S. , and in turn, local jobs, education, career training and infrastructure. GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. This allows engineers to optimize battery energy storage and layout for each vehicle design. Ultium Cells Job Applicant Privacy Statement. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. December 12, 2022. 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. Additional career opportunities can be found on the Ultium Cells website. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. Copy and paste multiple symbols separated by spaces. Jonas believes that for General Motors to capitalize on the opportunity, it will need to develop its ability to attract and retain capital and people. 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. The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. Ultium Cells Lansing Delta Township facility in Michigan is under construction and will start production in late 2024. From Green Power RSS Feed. TipRanks->. General Motors scores a strong 8 out of 10 on the TipRanks Smart Score ranking system, implying that it is well-positioned to outperform the overall market averages. It will allow us to build solid and stable U.S-based supply chains that enable everything from research, product development and production to the procurement of raw components,"LG Energy Solution President and CEO Jonghyun Kim said. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. Revenue. 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. 2023 Canjex Publishing Ltd. All rights reserved. $2,500M. mesurer votre utilisation de nos sites et applications. Ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute to the expansion of Zero-Emission propulsion on a global scale. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. 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. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. The two companies are building a $2.3 billion battery plant in northeast Ohio expected to open its doors next year to supply enough batteries to power hundreds of thousands of vehicles annually. Electric Vehicle Charging on-site! 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. 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! Access your favorite topics in a personalized feed while you're on the go. Technology Innovation 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. WARREN, Ohio Ultium Cells today welcomed Ohio Governor Mike DeWine to its battery cell manufacturing facility in Ohio. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors confirmed on Thursday that the vehicle maker is weighing building a second battery cell manufacturing plant in the US with joint venture partner LG Energy Solutions. A final selection though hasnt yet been made. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. Early conceptual rendering of Ultium Cells LLC battery cell manufacturing facility in Lansing, Michigan. The facility will be located in Lansing, Michigan. DOE closes $2.5B loan for Ultium Cells battery production. Type a symbol or company name. Type a symbol or company name. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. 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. According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. 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. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. 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 Job Applicant Privacy Statement. "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.". Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. 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. Written by The greatest wealth in health. . Team members and construction partners gathered to recognize this historic milestone, occurring just over one year after construction began and without a lost-time incident. Work for a company making a difference. 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. In 2010, the company built its first U.S battery plant in Holland, Michigan. Investors. These symbols will be available throughout the site during your session. He added, however, that there are several risks around the company generating credit for its battery capacity. For more information about Ultium Cells, please visit https://www.ultiumcell.com. Overall, Wall Street analysts share Jonas bullish outlook on the stock. 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. Related News:Costcos 2Q Sales Soar 15% On E-Commerce Boom; Street Is BullishSplunks 4Q Results Top Wall Street Estimates; Shares Jump 5.1%Zynga Snaps Up Echtra Games; Street Says Buy. 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. Health Care Benefits start day one! 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. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com. Did you know we are landfill free? General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. 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. General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade.. General Motors' Traditional Franchise Can Still Spur Billions of Dollars in Cash Flow, .. GM cuts several hundred full-time contract workers, General Motors Co Says Small Number Of Contractors Have Departed Co - Spokesperson, General motors co says says impacted contractors were notified b, General motors co says small number of contractors have departed. Advanced Technology Vehicles Manufacturing, U.S. Department of Energy Announces $2.5 Billion Loan to Ultium Cells for Three Domestic Battery Cell Manufacturing Facilities, LPO Offers Conditional Commitment for Loan to Build New EV Battery Cell Manufacturing Facilities in Ohio, Tennessee, Michigan, Lordstown, OH; Spring Hill, TN; Lansing, MI. U.S. Department of Energy. 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. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. 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. 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. 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. 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 facility's battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 . Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. We call on the ingenuity of our people, the technology behind our ultium battery cell manufacturing and the strengths of LG Energy Solution and General Motors. The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and battery production. By: Li . Commenting on the proposed battery facility, GMs Chairman and CEO Mary Barra stated, The support of the state of Tennessee was an important factor in making this investment in Spring Hill possible and this type of support will be critical moving forward as we continue to take steps to transition our manufacturing footprint to support EV production. 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." 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.
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