GM, LG Energy Solution Plan Fourth US Battery Plant In Indiana: Reuters

  • General Motors Co GM and LG Energy Solution are planning to establish a fourth U.S. battery cell manufacturing plant in Indiana, Reuters reported.
  • General Motors and LG Energy's joint venture, Ultium Cells LLC, already has three battery cell facilities in the U.S., including Ohio, Michigan, and Tennessee.
  • Ultium Cells LLC "is developing a competitive business case for a potentially large investment that could be located in New Carlisle, Indiana," the report quoted a spokesperson for the JV.
  • The fourth plant is expected to have an investment above $2 billion.
  • Ultium's first U.S battery cell plant in Warren, Ohio is set to begin production in late August.
  • Price Action: GM shares are trading lower by 1.47% at $38.15 in premarket on the last check Friday.
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