", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. Ultium Cells expects to have more than 130 GWh of battery cell capacity when all three facilities are at full production capacity later this decade a key enabler to GM's commitment to lead the industry in EVs. Ultium Cells will provide battery cell capacity to support GM's North American electric vehicle assembly capacity of more than 1 million units by mid-decade, while supporting GM plans to supply other automotive companies and other industries including rail, aerospace, heavy trucking and marine customers. The company established its first research facility in the U.S. in the early 2000s. GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. Ultium Cells Stock Price, Funding, Valuation, Revenue & Financial The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. Morgan Stanley Raises General Motors Target On Ultium Valuation Stockwatch NOW WATCH: Here's how the million-mile battery could lead to Teslas lasting a lifetime, GM revealed earlier this year when the car company announced its battery technology, Visit Business Insider's homepage for more stories. WARREN, Ohio In honor of Breast Cancer Awareness Month, Ultium Cells teamed up with the Joanie Abdu Comprehensive Breast Care Center (JACBCC) in nearby Youngstown, Ohio, to spread awareness and raise money for Joanie's Promise, a program that ensures anyone in the community in need of diagnostic breast care services has access to the best care available regardless of their ability to pay. News. US: GM To Build Two Additional Battery Cell Plants - InsideEVs GM And LG To Invest $2.3B In Tennessee Manufacturing Plant Tools. Spring Hill, Tenn. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility in Spring Hill, Tennessee, marked a construction milestone today with the final beam installation at what will soon be a 2.8-million-square-foot operation. Is this your business? In 2010, the company built its first U.S battery plant in Holland, Michigan. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility install the final beam as part of a traditional topping out ceremony Wednesday, June 8, 2022 in Spring Hill, Tennessee. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a zero-emission, all-electric future. AON Board Increases Quarterly Dividend By 11% At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Costcos 2Q Sales Soar 15% On E-Commerce Boom; Street Is Bullish, Splunks 4Q Results Top Wall Street Estimates; Shares Jump 5.1%, Zynga Snaps Up Echtra Games; Street Says Buy, Do Not Sell My Personal Information (CA Residents Only). The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. Type a symbol or company name. 7/26/2022. 2020 Benzinga.com - Benzinga does not provide investment advice. It will allow us to build solid and stable U.S-based supply chains that enable everything from research, product development and production to the procurement of raw components,"LG Energy Solution President and CEO Jonghyun Kim said. Nous, Yahoo, faisons partie de la famille de marques Yahoo. GM Opens Up a New Front in Its Battle With Tesla: Batteries Create your Watchlist to save your favorite quotes on Nasdaq.com. Investors. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a. The cells manufactured by Ultium Cells LLC are large format, pouch-type cells that use a state-of-the-art nickel-cobalt-manganese-aluminum (NCMA) chemistry to deliver more range at less cost. The two companies are building a $2.3 billion battery plant in northeast Ohio expected to open its doors next year to supply enough batteries to power hundreds of thousands of vehicles annually. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. These symbols will be available throughout the site during your session. See General Motors stock analysis on TipRanks, Marvell Shareholders Approve Acquisition Of Inphi, AON Board Increases Quarterly Dividend By 11%, IBM Acquires myInvenio To Enhance Business Processes Automation, Do Not Sell My Personal Information (CA Residents Only). Sharon Wrobel for With a 30-year history in the battery business, LG Energy Solution has made consistent, large-scale investments to accumulate enough stability, credibility and manufacturing experience to invent its own cutting-edge technologies. Gallagher added, We appreciate the support the state of Tennessee, Maury County and Spring Hill has shown Ultium Cells, and that support is playing an important role in making this expansion investment possible in our Spring Hill facility.. A final selection though hasnt yet been made. The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. SPRING HILL, Tenn. - Ultium Cells LLC, the battery cell manufacturing joint venture of LG Energy Solution and General Motors, today announced the company is investing an additional $275 million in the Ultium Cells Spring Hill plant to expand the facility's battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 . Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, has announced that it will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. GM and LG Energy Solution Investing $2.6 Billion to Build 3rd Ultium Cells Manufacturing Plant in Lansing Li-Cycle - Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. Stocks. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. Automakers aiming to compete in the growing electric-car market want to secure a steady supply of batteries. The facility will be located in Spring Hill, Tennessee. Team members and construction partners gathered to recognize this historic milestone, occurring just over one year after construction began and without a lost-time incident. The 2.8-million square foot Ultium Cells LLC plant is the first of at . Sign up for notifications from Insider! The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. UPDATE 1-GM, LG Energy joint venture Ohio battery plant begins production Stay up to date with what you want to know. GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. DOE closes $2.5B loan for Ultium Cells battery production. We have received election results from the National Labor Relations Board (NLRB) and respect the decision of our Ohio workforce supporting representation by the UAW. This investment will allow us to provide our customer GM more battery cells faster and support GMs aggressive EV launch plan in the coming years, said Tom Gallagher, Ultium Cells LLC vice president of operations. Why GM's Stock . The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. View original content:http://www.prnewswire.com/news-releases/gm-and-lg-energy-solution-investing-2-3-billion-in-2nd-ultium-cells-manufacturing-plant-in-us-301270646.html. Overall, Wall Street analysts share Jonas bullish outlook on the stock. Valuation. With shares up 25% so far this year, the average analyst price target of $63.67 suggests additional 23% upside potential lies ahead over the coming year. Ultium Cells will provide battery cell capacity to support GM's North American electric vehicle assembly capacity of more than 1 million units by mid-decade, while supporting GM plans to supply other automotive companies and other industries including rail, aerospace, heavy trucking and marine customers. The new factory is located near the old Lordstown plant, and GM has said that it will be staffed with UAW workers and create 1,100 new jobs. Early conceptual rendering of Ultium Cells LLC battery cell manufacturing facility in Lansing, Michigan. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. Ultium Cells, a joint venture of LG Energy Solution and General Motors, today announced a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. Revenue. How do we do this? Ultium Cellsis a joint venture between General Motors and LG Energy Solution that will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. ULTIUM CELLS | Department of Energy The first Ultium-powered model, expected to be out late in 2021, will be a GMC Hummer pickup, reborn as an EV with up to 1,000 horsepower. The facility will supply battery cells to GMs Spring Hill assembly plant for production of the Cadillac LYRIQ and other GM Ultium Platform-based EVs. International. For more information about LG Energy Solution, please visit https://www.lgensol.com. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. General Motors : Ultium Cells LLC Seeking 1,100 Team Members to Help In December 2022, the Department of Energy announced the closing of a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan. We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. dvelopper et amliorer nos produits et services. * Approximate amount of the loan facility approved at closing including principal and any capitalized interest. The company established its first research facility in the U.S. in the early 2000s. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Currencies. LORDSTOWN, Ohio - GM continues to advance toward an all-electric, zero-emissions future with the construction of its nearly 3 million-square-foot Ultium Cells LLC battery cell manufacturing facility in Lordstown. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ --. Once fully operational, the plant will create 1,700 new high-tech jobs to support the production of battery cells for GMs Ultium Platform-based EVs, including the Chevrolet Silverado EV and GMC Sierra EV. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Technology Innovation LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. . Work for a company making a difference. Ultium Cells LLC | LinkedIn The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." (See General Motors stock analysis on TipRanks). By: Li . Neha Gupta for When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Ultium Cells is taking the appropriate steps to support GMs plan for more than 1 million units of EV capacity in North America by mid-decade., Ultium Cells will play a critical role in making GMs commitment to an all-electric future a reality, said Tim Herrick, GMs vice president of EV Launch Excellence. Ultium Cells LLC 6,477 followers 2mo Today, we celebrated the final beam installation at our facility under construction in Lansing, Michigan alongside construction partners and ironworkers! General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio. IBM Acquires myInvenio To Enhance Business Processes Automation. Ultium Cells Lansing Delta Township facility in Michigan is under construction and will start production in late 2024. We look forward to a positive working relationship with the UAW. Sources. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. Written by Buoyed by the move to construct the new battery cell plant, Morgan Stanleys analyst Adam Jonas reiterated a Buy rating on the stock. Copy and paste multiple symbols separated by spaces. Electricity is the future of transportation, powered by battery cells that are designed and manufactured by some of the brightest, most innovative people in the world. All rights reserved. Once complete, the plant will produce battery cells to be used in General Motors (GM) Spring Hill assembly plant. Morgan Stanley Raises General Motors Target On Ultium Valuation Energy options range from 50 to 200 kilowatt hours, which could enable a GM-estimated range up to 450miles or more on a full charge with 0-60 mph acceleration in 3 seconds1. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. FY . The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. Date. Type a symbol or company name. General Motors : Ultium Cells LLC and Li-Cycle Collaborate to Expand Ultium Cells LLC Ultium Cells LLC manufactures battery cells used in electric cars and other electric vehicles. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE. "The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system.". For more information about Ultium Cells, please visit https://www.ultiumcell.com. 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. They can be arranged in different combinations of flexible modules and battery packs to provide the energy for every segment on the road today, from performance vehicles to work trucks.
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