GM, LG Energy shelve plan for fourth battery plant – GreentechLead

General Motors and LG Energy Solution have shelved plan for making investment in a fourth battery cell manufacturing plant in the United States, a news report in The WallStreet Journal said. Ultium Cells, a joint venture between General Motors and LG Energy Solution, in August said it was considering a site in New Carlisle, Indiana, for a fourth U.S. battery plant expected to cost around $2.5 billion. “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. GM could still proceed with plans to build a new manufacturing plant for making battery cell in Indiana with a new partner. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024. In December, Ultium said it would boost its investment in a $2.3 billion Tennessee plant that is set to open later this year by another $275 million. GM said it is investing to ramp up cell production with LG Energy and added the plants in Tennessee and Michigan are on track to open in 2023 and 2024, respectively. “This cell capacity keeps us on track to
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