Friday, 24 March, 2023

Joint venture between GM and LG to receive $2.5B in US govt financing

<p>The joint battery venture between GM and LG Energy Solution is the first recipient of a new loan program from the U.S. Department of Energy. The new lithium-ion battery cell manufacturing facilities will be built with the aid of the $2.5B loan provided to GM and LG Energy. The GM-LG joint venture, known as Ultium Cells, will utilize the loan, which is anticipated to close in the next several months, to build new facilities in Ohio, Tennessee, and Michigan.</p>