[Edaily Reporter Ahn Hye-shin ] General Motors (GM) has decided to upgrade its factory in Tennessee to produce low-cost battery cells in partnership with its battery partner, LG Energy Solution(373220).
On the 29th (local time), GM announced that it plans to begin upgrading the Ultium Cells joint venture plant in the second half of this year to manufacture lithium-manganese-rich (LMR) prismatic battery cells for future GM electric vehicles. Construction is expected to be completed in 2028, but the specific start date for cell production has not been disclosed.
GM had previously stated that it aims to begin commercial production of LMR cells for electric vehicles in the U.S. in 2028. LMR cells are expected to have the potential for 33% higher energy density than lithium iron phosphate (LFP) cells, another low-cost battery material favored by many automakers.
Meanwhile, as of 12:56 p.m. today, GM shares are trading at $79.70, down 1.17% ($0.94) from the previous trading day.
On the 29th (local time), GM announced that it plans to begin upgrading the Ultium Cells joint venture plant in the second half of this year to manufacture lithium-manganese-rich (LMR) prismatic battery cells for future GM electric vehicles. Construction is expected to be completed in 2028, but the specific start date for cell production has not been disclosed.
GM had previously stated that it aims to begin commercial production of LMR cells for electric vehicles in the U.S. in 2028. LMR cells are expected to have the potential for 33% higher energy density than lithium iron phosphate (LFP) cells, another low-cost battery material favored by many automakers.
Meanwhile, as of 12:56 p.m. today, GM shares are trading at $79.70, down 1.17% ($0.94) from the previous trading day.
