Together, the companies will invest up to a total of $2.3 billion through a new, equally owned joint venture company.
The JV will establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs.
The state-of-the art plant will use the most advanced manufacturing processes all under one roof to produce cells efficiently, with little waste, and will benefit from strong economies of scale throughout the value chain.
“With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions,” said GM Chairman and CEO Mary Barra. “Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future.”
Groundbreaking is expected to take place in mid-2020.