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☆ Yellen touts battery investments in Tennessee after Biden speech
  + stars: | 2023-02-08 | by ( David Lawder | ) www.reuters.com   time to read: +3 min
[1/2] U.S. Treasury Secretary Janet Yellen gives a speech after she visited the House of Slaves (Maison des Esclaves) at Goree Island off the coast of Dakar, Senegal January 21, 2023. "The Inflation Reduction Act is offering meaningful tax credits to spur clean energy investment and production. Importantly, the law deliberately encourages place-based investments," Yellen said in excerpts of remarks for delivery at the Ultium Cells plant. EUROPEAN COMPLAINTSBut European and Asian allies have complained that the Inflation Reduction Act's tax subsidies will pull green investments away from those regions toward the United States. Le Maire also said that U.S. rules on the tax credits, now being finalized by Yellen's staff, should be made available to a "maximum" of European components.
☆ U.S. Treasury secretary to visit GM JV battery plant in Tennessee
  + stars: | 2023-02-06 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Feb 6 (Reuters) - Treasury Secretary Janet Yellen will visit a General Motors (GM.N) LG Energy Solution (373220.KS) joint venture battery cell manufacturing plant in Tennessee on Wednesday to tout rising U.S. electric vehicle and battery production, the department said Monday. The 2.8-million-square-foot, $2.6 billion Ultium Cells plant in Spring Hill, Tennessee, is set to begin production later this year and is the second of three planned JV plants. The plant is expected to eventually employ 1,700 people and will produce cells for the Cadillac Lyriq, which is produced at the adjacent GM assembly plant. Yellen and other Cabinet officials are traveling this week to tout the IRA's boosting of green energy manufacturing and battery production. China currently produces 70% of batteries for electric vehicles, Treasury said.
☆ GM, Lithium Americas to develop Thacker Pass mine in Nevada
  + stars: | 2023-01-31 | by ( ) www.reuters.com   time to read: +1 min
Jan 31 (Reuters) - General Motors Co (GM.N) and Lithium Americas Corp (LAC.TO) on Tuesday announced they would jointly invest to develop the Thacker Pass mine in Nevada. Under the agreement, GM will make an equity investment of $650 million in Lithium Americas. Lithium carbonate from Thacker Pass will be used in GM's proprietary Ultium battery cell. U.S.-listed shares of Lithium Americas rose over 9% in premarket trade. Production at Thacker Pass, which is expected to create 1,000 jobs in construction and 500 in operations, is projected to begin in the second half of 2026, the companies said in a statement.
☆ General Motors doesn’t expect significant U.S. production of EVs until second half of year
  + stars: | 2023-01-31 | by ( Michael Wayland | ) www.cnbc.com   time to read: +4 min
Barring any supply chain problems, Betts said electric vehicles should be easier and faster to build than traditional vehicles with internal combustion engines for an experienced automaker. Photo by Steve Fecht for General MotorsBut others such as Hyundai Motor and Ford Motor have been ratcheting up production of EVs. Industry leader Tesla also targets to produce 2 million electric vehicles globally this year. Ford, which ranked second in EV sales in the U.S. last year, expects to increase production of its electric Ford F-150 Lightning. GM expects to ramp-up production of the Bolt models, which use older battery technology, to 70,000 vehicles this year, GM has said.
☆ GM, LG Scrap Plans to Partner on Fourth U.S. Battery Factory
  + stars: | 2023-01-20 | by ( Mike Colias | River Davis | ) www.wsj.com   time to read: 1 min
A U.S. battery-cell factory that had been in the works between General Motors Co. and LG Energy Solution has been shelved indefinitely, people familiar with the matter said, marking a pause in the fast-growing partnership between GM and the Korean battery supplier. Talks in recent months between GM and LG Energy executives ended without an agreement to move forward on what would have been the fourth U.S. battery plant to be developed by the companies through their 50-50 joint venture, Ultium Cells LLC, the people said.
☆ GM, LG end plans for fourth U.S. battery cell plant as automaker seeks new partner
  + stars: | 2023-01-20 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
DETROIT – General Motors and LG Energy Solution have indefinitely shelved plans to build a fourth battery cell plant in the U.S., as talks between the two sides recently ended without an agreement, a person familiar with the plans confirmed to CNBC. The paper, citing unnamed sources familiar with the plans, said GM is in discussions with at least one other battery supplier to proceed with the fourth U.S. battery-cell factory. GM and LG initially announced the joint-venture for a $2.3 billion plant in Ohio in December 2019, followed by other plants near GM operations in Michigan and Tennessee. A spokeswoman for Ultium referred questions to GM and LG Energy, which did not immediately respond for comment. The relationship between GM and LG Energy is crucial to the automaker's future plans for EVs, including topping Tesla and others to become the U.S. leader in all-electric vehicle sales.
☆ GM, LG Energy drop plan for fourth U.S JV battery plant
  + stars: | 2023-01-20 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
REUTERS/Rebecca CookWASHINGTON, Jan 20 (Reuters) - General Motors Co (GM.N) and LG Energy Solution (373220.KS) do not plan to move forward with a fourth U.S. battery cell manufacturing plant, two sources told Reuters on Friday. "We’ve been very clear that our plan includes investing in a fourth U.S. cell plant, but we’re not going to comment on speculation," GM said in a statement Friday. LG Energy did not immediately comment. GM could still proceed with plans to build a new plant in Indiana with a new partner, the sources said. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024.
☆ What's faster than a Corvette? A 'Vette with an electric motor
  + stars: | 2023-01-17 | by ( Joseph White | ) www.reuters.com   time to read: +1 min
[1/4] General Motors Co's new, hybrid electric sports car, the Corvette E-Ray, is seen in this undated handout photo obtained by Reuters January 15, 2023. General Motors/Handout via REUTERSDETROIT, Jan 17 (Reuters) - General Motors Co (GM.N) on Tuesday revealed a new, hybrid Corvette sports car that uses an electric motor and battery to amp up acceleration and go in the snow. The Corvette E-Ray - a play on the Stingray name used for gasoline-powered versions of the sports car - was revealed on the 70th anniversary of the debut of the original Corvette. The Corvette E-Ray will use a 12-volt lithium-ion battery and a 160-horsepower electric motor to drive the front wheels. A fully electric Corvette will come, but GM executives are not saying when.
☆ Tesla is losing its Supercharger advantage as rivals like GM and Mercedes build their own networks
  + stars: | 2023-01-05 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +3 min
Mercedes announced at CES this week its plans to launch a "high-power" EV charging network. The announcement is an effort to replicate Tesla's Supercharger advantage. The Supercharger network has long set Tesla apart from any competition, and largely still does. This week at CES in Las Vegas, Mercedes announced it is launching its own version of Tesla's Supercharger network. GM, meanwhile, is establishing an "Ultium Charge 360" charging network in North America.
☆ Charging an electric car isn't as simple as pumping gas. Here's what to know.
  + stars: | 2022-12-16 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +4 min
There are two main things to know about EV charging: charger types and connector types. These slightly faster chargers – averaging about 25 miles of range per hour – can also be installed in your home. Depending on the size of your battery, a DC fast charger can replenish an empty battery to about 80% in a half hour. Tesla's Superchargers, which only work on Tesla vehicles because of the proprietary connector, are DC fast chargers. But non-Teslas can also plug into a DC fast charger that is not owned by Tesla.
☆ Elon Musk's former right-hand man is taking the next big step in his plan to make EVs cheaper by recycling old batteries
  + stars: | 2022-12-14 | by ( Alexa St. John | ) www.businessinsider.com   time to read: +3 min
The EV battery recycling giant just announced a new plant in South Carolina. The plant will help carmakers get the materials they need to make EV batteries. With more and more demand for the materials to make these things, taking advantage of recycling can ease a supply crunch and eventually drive down costs. "The goal is to make the most sustainable battery materials," said Jackson Switzer, Redwood senior director of business development and one of Insider's 100 People Transforming Business. "To make the most sustainable battery materials, we need to get as much recycled nickel, cobalt, and lithium as we can into the front end of the system.
☆ UAW union president optimistic on quick contract with GM-LG battery venture
  + stars: | 2022-12-12 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Dec 12 (Reuters) - United Auto Workers (UAW) President Ray Curry said Monday he is optimistic the union can quickly reach a contract deal with a General Motors (GM.N), LG Energy Solution (373220.KS) battery cell joint venture factory. The Detroit Three automakers all have battery plants in the works with South Korean partners and Ultium is building two other U.S. battery plants in Tennessee and Michigan. He said it would be "premature" to say how a deal with the union would affect labor costs or business structure. Ultium is building a $2.6 billion plant in Michigan, set to open in 2024. This month, Ultium said it would boost its planned investment in a $2.3 billion Tennessee plant by $275 million.
☆ U.S. finalizes $2.5 billion loan to GM, LG battery joint venture
  + stars: | 2022-12-12 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
Reuters first reported in July the planned loan to Ultium Cells LLC from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program. Last week, workers at the $2.3 billion Ultium plant in Ohio voted to join the UAW, a win for the union, which is seeking to organize the growing EV supply chain. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant. The Energy Department said the $3 billion would provide an estimated $40 billion in additional loan authority for a total estimated available authority under ATVM of about $55.1 billion before the Ultium loan. The ATVM loan program in July closed on a $102.1 million loan to Syrah Technologies LLC (SYR.AX) for expansion of a facility producing a key component for batteries.
☆ Biden administration announces $2.5 billion loan to help GM and LG make EV batteries
  + stars: | 2022-12-12 | by ( Ella Nilsen | ) edition.cnn.com   time to read: +2 min
CNN —The US Department of Energy’s Loan Programs Office will announce Monday that it is issuing a $2.5 billion loan to help start three lithium battery manufacturing hubs in Ohio, Tennessee and Michigan. The DOE loan programs office will loan the money to Ultium Cells LLC, a joint venture of General Motors and South Korean battery manufacturer LG Energy Solutions making batteries to power electric vehicles. In order to take advantage of a federal EV tax subsidy in the Inflation Reduction Act, electric vehicles and much of their battery components be sourced, processed and assembled in North America. LG Energy Solutions is also set to partner with Japanese automaker Honda on a $3.5 billion joint venture battery factory in southern Ohio. The Warren, Ohio, Ultium facility will be represented by the United Auto Workers, after the plant voted to unionize on Friday.
☆ Workers at GM-LG Battery Plant in Ohio Vote to Unionize
  + stars: | 2022-12-09 | by ( Nora Eckert | Mike Colias | ) www.wsj.com   time to read: 1 min
The Ultium Cells battery plant in Warren, Ohio, is a joint venture of GM and LG Energy Solution. Workers at an Ohio battery plant co-owned by General Motors Co. voted overwhelmingly to be represented by the United Auto Workers, bolstering the union as it seeks to solidify its membership amid the auto industry’s push toward electric vehicles. Employees at the plant voted 710-to-16 in favor of joining the UAW. The Ultium Cells LLC plant, a joint venture between GM and South Korea’s LG Energy Solution Ltd., began operations in late August and employs about 900 people.
☆ UAW wins key vote to represent Ohio EV battery factory
  + stars: | 2022-12-09 | by ( Chris Isidore | ) edition.cnn.com   time to read: +5 min
New York CNN —Workers at the Ultium Cells plant, co-owned by General Motors and Korean giant LG, voted overwhelmingly this week to join the United Auto Workers union. Like Ultium most of those battery plants are joint ventures with battery makers rather than wholly owned by the automakers themselves. That means the workers at those new plants will not be part of the UAW unless they vote to join. So it’s crucial for the UAW to be able to organize these slew of joint venture battery plants popping up nationwide. While GM (GM) is not the sole owner of the plant, its executives welcomed the union in hopes it helps to maintain labor peace with contract talks looming next fall.
☆ Ohio workers vote to unionize GM, LG battery plant
  + stars: | 2022-12-09 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
The Detroit Three automakers all have battery plants in the works with South Korean partners. The UAW petitioned in October to represent about 900 workers at the Ohio plant after a majority of employees signed cards authorizing the union to represent them. Production began in August at the Ohio plant, the first of at least four planned Ultium U.S. battery factories. GM and LG Energy are considering an Indiana site for a fourth U.S. battery plant. Last week, GM Chief Executive Mary Barra expressed support for unionizing the Ohio plant.
☆ GM battery plant workers vote to unionize with UAW, a key win for labor as industry shifts to EVs
  + stars: | 2022-12-09 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
DETROIT — Workers at a General Motors joint venture battery plant in northeast Ohio overwhelmingly voted in favor of representation with the United Auto Workers, the union said early Friday. The count was 710 votes in support of UAW representation; 16 against; and one was void. "Our entire union welcomes our latest members from Ultium," UAW President Ray Curry said in a release. "As the auto industry transitions to electric vehicles, new workers entering the auto sector at plants like Ultium are thinking about their value and worth. Ultium, in a statement Friday, said it respects "the decision of our Ohio workforce supporting representation by the UAW.
☆ GM's building its own kind of Tesla Supercharger network — and it's using car dealers as its secret weapon
  + stars: | 2022-12-07 | by ( Nora Naughton | ) www.businessinsider.com   time to read: +3 min
The automaker is partnering with startup FLO to install the Level 2 chargers. Since then, GM said, nearly 1,000 dealers have enrolled in the program, which started among Chevrolet dealers earlier this year. Dealers are helping GM and FLO identify areas in their community where the ability to plug in would be most beneficial. The dealer-led charging network is just the latest effort in GM's push to make EV buying and driving more seamless. Also in partnership with its dealer network, GM this year opened its EV Live call center, where potential and current EV drivers can ask experts questions about the nuances of these technology-packed vehicles.
☆ GM to roll put thousands of electric vehicle chargers in rural America
  + stars: | 2022-12-07 | by ( Peter Valdes-Dapena | ) edition.cnn.com   time to read: +3 min
CNN Business —General Motors is moving ahead with plans to install as many as 40,000 electric vehicle chargers in, mostly, rural parts of America. The chargers will have industry-standard J1772 charging plugs that can be used by most electric vehicles, not just GM (GM) models. Many GM dealership owners — these are independently owned businesses — own more than one dealership. Today, most electric vehicles in America are sold in coastal areas like New York and California. GM declined to say how much it’s spending on this particular program, but it’s part of an overall $750 million the automaker plans to spend on electric vehicle charging infrastructure.
☆ GM battery plant workers to vote on union representation in labor test for the EV industry
  + stars: | 2022-12-06 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
DETROIT – The United Auto Workers union will for the first time this week attempt to organize a major electric vehicle battery plant for a Detroit automaker, potentially setting a precedent for similar multibillion facilities to come. The UAW's push into the battery plants comes amid a large labor movement that has included U.S. corporations like Amazon and Apple to Starbucks to Chipotle . Joint venture battery facilities are viewed as crucial for the UAW to grow and add members, as automakers such as GM transition to electric vehicles, which require less traditional labor and parts than cars with internal combustion engines. The Ultium plant in Ohio, which started production in August, is the first of at least four U.S. battery facilities for the GM-LG joint venture. Ford Motor , Stellantis and other automakers have announced similar plants, which would each have to be organized separately in addition to other Ultium plants.
☆ UAW president faces run-off election as reformers make gains
  + stars: | 2022-12-05 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Dec 5 (Reuters) - United Auto Workers (UAW) President Ray Curry will face a run-off election against reform presidential candidate Shawn Fain, a court-appointed monitor said on Monday, after none of the five candidates captured a majority. The run-off election, which will also determine a vice president and regional director race, could see reformers claim a majority of seats on the 14-member UAW executive board. UAW officers previously were elected through a delegate system. For more than three decades, all UAW officers have come from an administrative slate of candidates. Curry has been president of the UAW since June 2021, and a UAW member since 1992.
☆ GM, LG joint venture to invest $275 million in Tennessee battery cell plant
  + stars: | 2022-12-02 | by ( David Shepardson | ) www.reuters.com   time to read: +2 min
WASHINGTON, Dec 2 (Reuters) - General Motors Co (GM.N) and LG Energy Solution Ltd (373220.KS) said Friday they are investing another $275 million in their Tennessee joint venture battery cell plant to increase production by more than 40%. It is one of at least four U.S. joint venture battery plants planned to supply GM electric vehicles as the largest U.S. automaker ramps up production. The first Ultium joint venture plant in Warren, Ohio began production in August. GM and LG Energy are also considering an Indiana site for a fourth U.S. battery plant expected to cost around $2.4 billion. They are also building a $2.6 billion battery cell plant in Lansing, Michigan, set to open in 2024.
☆ GM, LG investing $275 million to expand Tennessee EV battery plant
  + stars: | 2022-12-02 | by ( Michael Wayland | ) www.cnbc.com   time to read: +1 min
General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan. General Motors and LG Energy Solution will spend an additional $275 million in their joint venture battery plant in Tennessee to increase production by more than 40%. The Ultium Cells Spring Hill site is expected to join other joint venture battery cell manufacturing sites in Ohio and Michigan. "Ultium Cells will play a critical role in making GM's commitment to an all-electric future a reality," said Tim Herrick, GM's vice president of EV Launch Excellence. "By expanding battery cell output at Ultium Cells Spring Hill, this investment will help GM offer customers the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership."
☆ LG Chem to invest over $3 billion to build U.S. battery cathode plant
  + stars: | 2022-11-22 | by ( Heekyong Yang | ) www.reuters.com   time to read: +3 min
SEOUL, Nov 22 (Reuters) - South Korea's LG Chem Ltd (051910.KS) said on Tuesday it will invest more than $3 billion to build a battery cathode factory in Tennessee, as it ramps up plans to meet rising demand for U.S. electric vehicle components. Mass production is set to start in the second half of 2025 and the plant will create more than 850 jobs, LG Chem said in a statement. LG Chem is expected to supply cathode materials to Ultium Cells, a battery joint venture between General Motors (GM.N) and LG Chem's subsidiary LG Energy Solution Ltd (LGES) (373220.KS). GM has said it will use NCMA battery cathodes from LG Chem for a range of EVs using Ultium-branded batteries. At this month's G20 summit, South Korean President Yoon Suk-yeol asked U.S. President Joe Biden to prevent discriminatory measures against South Korean companies, his office said.
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