UPDATED. 2021-10-25 18:07 (월)
LG and General Motors to spend 2.7 trillion won for 2nd factory 
LG and General Motors to spend 2.7 trillion won for 2nd factory 
  • Stan Lee
  • 승인 2021.04.19 17:24
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New 35GWh factory to start operation in 2023
Image: LG Energy Solution, General Motors
Image: LG Energy Solution, General Motors

LG Energy Solution and General Motors will build a second factory for electric vehicle batteries in the US, the pair announced.

Their joint venture, Ultium Cells, will put in around 600 billion won for the factory. LG and General Motors will each put in 1.06 trillion won.

The second factory will have an annual production capacity of over 35GWh by the first half of 2024.

It will be built at Spring Hill, Tennessee and is expected create 1,300 new jobs. Construction will begin this year and the factory will begin operations in the second half of 2023.

The pair are currently building their first factory together at Ohio, which is also expected to have an annual production capacity of 35GWh.

Ultium Cells will have an annual battery production capacity of 70GWh in 2024, when both factories are live. The capacity is enough to provide batteries for a million EVs that can travel 500km per charge.

LG Energy Solution also plans to spend over 5 trillion won on its own in the US to secure over 70GWh in annual production capacity alone.

Combined with the capacity of Ultium Cells, this will mean the South Korean battery maker will be responsible for providing 145GWh of batteries annually, which is enough to power two million units of EVs.


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