Deals Counterparts

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

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.

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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."

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
Capacity
With the expansion, Ultium will increase battery cell production by more than 40 percent, from 35 to 50 gigawatt-hours (GWh).
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
Announcement
December 4, 2022
COD
Production at the 2.8-million-square-foot facility will begin in late 2023.
PARTIES MENTIONED IN SOURCE
L
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"

G
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"

U
Ultium Cells LLC developer

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

high quality Enriched Feb 19, 2026

Timeline

Announced
Jan 26, 2024
Signed
Closed

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