LG Energy Solution and GM Invest $275 Million in Ultium Cells Expansion

By Global Infrastructure Sherpa · Jan 26, 2024

Investment Battery Manufacturing announced Spring Hill, United States Jan 26, 2024

USD275M

Deal Value

50 GW

Capacity

construction

Stage

LG Energy Solution and General Motors are investing $275 million in Ultium Cells to expand battery cell production capacity at its existing facilities.

Source Intelligence

KEY DETAILS

The expansion is in addition to the $2.3 billion investment announced in April 2021, and is expected to create 400 additional jobs. "The expansion is in addition to the $2.3 billion investment announced in April 2021, and is expected to create 400 additional jobs."

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Deal Size

Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, will spend $275 million to expand its battery cell assembly plant

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Capacity

With the expansion, Ultium will increase battery cell production by more than 40 percent, from 35 to 50 gigawatt-hours (GWh).

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Location

SPRING HILL, TN—Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, will spend $275 million to expand its battery cell assembly plant

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Announcement

December 4, 2022

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COD

Production at the 2.8-million-square-foot facility will begin in late 2023.

PARTIES MENTIONED IN SOURCE

LG Energy Solution investor

"Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, will spend $275 million to expand its battery cell assembly plant"

General Motors investor

"Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, will spend $275 million to expand its battery cell assembly plant"

Ultium Cells LLC developer