GM's proprietary Ultium battery technology is at the heart of the company's strategy to compete for nearly every EV customer in the marketplace, whether they are looking for affordable transportation, luxury vehicles, work trucks, commercial trucks or high-performance machines. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. [19] [20] Specifications [ edit] Indicators. My Watchlist. Zero Emission | Advanced Technology | Ultium Cells LLC The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. Sign up for notifications from Insider! "The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future," said GM Chairman and CEO Mary Barra. The closure became an issue when President Donald Trump got involved, and it remained an issue through the 2019 United Auto Workers strike against GM. Ultium Cells Lansing Delta Township facility in Michigan is under construction and will start production in late 2024. Treasuries. 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 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. Morgan Stanley Raises General Motors Target On Ultium Valuation Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the United States. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ --. This allows engineers to optimize battery energy storage and layout for each vehicle design. Related News The facility will be located in Spring Hill, Tennessee. The General Motors . Jonas has an $80 price target on GM, implying 36.2% upside potential to current levels. Create your Watchlist to save your favorite quotes on Nasdaq.com. Last Updated December 2022. IBM Acquires myInvenio To Enhance Business Processes Automation. 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.. Loan. General Motors Reportedly Lays Off Employees in Product Development Domain as Part of C.. Morgan Stanley Upgrades General Motors to Overweight From Equalweight, Boosts Price Tar.. Nomura Adjusts General Motors Price Target to $36 From $39, Maintains Neutral Rating. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." Peridot Acquisition : Li-Cycle and Ultium Cells LLC Announce Agreement In 2010, the company built its first U.S battery plant in Holland, Michigan. Written by Ultium Cells LLC - Company Profile and News - Bloomberg Markets Did you know we are landfill free? 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. While some investors view Ultium as copying Tesla Inc (NASDAQ:TSLA), there seems to be only one mission for General Motors to grow. 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. Morgan Stanley Raises General Motors Target On Ultium Valuation - Yahoo 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. Ultium Cells LLC Announces Plans to Pr | Ultium Cells LLC Spring Hill, Tenn. Today, the Ultium Cells battery cell manufacturing plant in Spring Hill, Tennessee, celebrated a major milestone as construction on the 2.8 million-square-foot facility surpassed its one millionth construction hour. Top 11 Lithium and Battery Stocks to Buy Now - Yahoo Finance We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. Electric Vehicle Charging on-site! December 12, 2022. SPRING HILL, Tenn. Ultium Cells today welcomed U.S. Treasury Secretary Janet Yellen to its battery cell manufacturing facility under construction in Spring Hill. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. Ultium Cells is committed to using the most technologically advanced methods in the industry to produce the very best of those battery cells, now and for generations to come. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and battery production. 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. The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. GM And LG To Invest $2.3B In Tennessee Manufacturing Plant TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors. These symbols will be available throughout the site during your session. General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Stockwatch Li-Cycle - Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle The company established its first research facility in the U.S. in the early 2000s. 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. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. (See General Motors stock analysis on TipRanks). Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. 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. Get the latest ride including electric vehicles with Ultium Cells at a discount on General Motors Vehicles. $2,500M. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. All rights reserved. General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade.. General Motors' Traditional Franchise Can Still Spur Billions of Dollars in Cash Flow, .. GM cuts several hundred full-time contract workers, General Motors Co Says Small Number Of Contractors Have Departed Co - Spokesperson, General motors co says says impacted contractors were notified b, General motors co says small number of contractors have departed. Type a symbol or company name. 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. -, General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade, Morgan Stanley Says, S&P, Dow edge higher as JPMorgan gains; Fed meet in focus, General Motors Lays Off 'Hundreds' of Product Development Contract Employees. US: GM To Build Two Additional Battery Cell Plants - InsideEVs AON Board Increases Quarterly Dividend By 11% By: Li . The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Additional $275 million investment and 400 more jobs for Spring Hill, Tennessee battery cell plant will increase battery cell production by more than 40 percent to 50 gigawatt-hours, Production at the 2.8 million-square-foot facility will begin in late 2023. We look forward to a positive working relationship with the UAW. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. 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. Both factories will supply the automaker with the cells needed for . Related News:Costcos 2Q Sales Soar 15% On E-Commerce Boom; Street Is BullishSplunks 4Q Results Top Wall Street Estimates; Shares Jump 5.1%Zynga Snaps Up Echtra Games; Street Says Buy. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. 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. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Ultium Cells LLC | LinkedIn 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. Morgan Stanley Raises General Motors Target On Ultium - Benzinga Nous, Yahoo, faisons partie de la famille de marques Yahoo. The 2.8-million square foot Ultium Cells LLC plant is the first of at . 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. General Motors shares are up about 41% year to date after a 13.58% pop in 2020. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. 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. 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 . 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. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. For more information about LG Energy Solution, please visit https://www.lgensol.com. 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. "Importantly, I truly believe this coming together transcends a partnership as it marks adefining moment that will reduce emissions and help to accelerate the adoption of EVs.". In 2019, GM announced the formation of Ultium Cells LLC. 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. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Li-Cycle - Li-Cycle and Ultium Cells LLC Announce Agreement on LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. Marvell Shareholders Approve Acquisition Of Inphi ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. Type a symbol or company name. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. Stay up to date with what you want to know. Round. Health Care Benefits start day one! Tools. Latest News about Ultium Cells. Overview. General Motors (GM) Ultium Cells Workers Vote to Join UAW - Yahoo Finance 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. 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. Morgan Stanley analyst Adam Jonas last month maintained a Buy rating on the stock with a $80 price target (54% upside potential) following recent talks with investors, which point to a rising interest in what he calls "the individual 'hidden gems' within" GMs technology and services portfolio, including scalable technologies in electric, connected and autonomous vehicle end markets. 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. News. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. 7/26/2022. Sharon Wrobel for The greatest wealth in health. Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS, supply its Hydrotec fuel cell power cubes, HUMMER EV SUV and the Chevrolet Silverado electric pickup truck, 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, GM's zero-emissions technology will extend to fuel cells as the company announced it will. The move, which was first reported by the Wall Street Journal, is part of the Detroit car makers strategy to expand its investment in electric vehicles. Ultium Cells LLC Company Profile | Warren, OH - Dun & Bradstreet Why GM's Stock . Ultium Cells team is comprised of some of the finest minds in the automotive and electronics industries, but we are looking for more of those rare individuals. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. Ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute to the expansion of Zero-Emission propulsion on a global scale. All rights reserved. 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. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Type a symbol or company name. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of dvelopper et amliorer nos produits et services. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of Access your favorite topics in a personalized feed while you're on the go. Additional career opportunities can be found on the Ultium Cells website. 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. A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production. Lithium cells can produce voltages from around 1.5V (comparable to a zinc-carbon or alkaline battery) to around 3.7V, depending on the design and chemical compounds that were used in the. GM and LG Energy Solution Investing $2.6 Billion to Build 3rd Ultium Cells Manufacturing Plant in Lansing Ultium Cells Job Applicant Privacy Statement. The plant is to be built by Ultium Cells LLC, a joint venture between the two companies. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Jonas has an $80 price target on GM,. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. He added, however, that there are several risks around the company generating credit for its battery capacity. In 2010, the company built its first U.S battery plant in Holland, Michigan. GM (GM) said that via the Ultium Cells LLCjoint venture with LG Energy, the car marker is exploring the feasibility of constructing a second state-of-the-art battery cell plant. A decision should be made by the first half of 2021, the US vehicle maker said. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Jonas believes that for General Motors to capitalize on the opportunity, it will need to develop its ability to attract and retain capital and people. Battery cell production at the 2.8 million-square-foot facility will begin in late 2023. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. If our forecasts for the long term growth of the global EV market are even remotely in the ballpark, we believe there will be plenty of room to go around for competing EV supply beyond the likes of Tesla," Jonas wrote in the note. 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. Stock Quote Recent Quotes. According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. GM, LG Energy Mull Second Battery Cell Plant In US; Street Is - Nasdaq International. General Motors confirmed on Thursday that the vehicle maker is weighing building a second battery cell manufacturing plant in the US with joint venture partner LG Energy Solutions. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com. 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. WARREN, Ohio Yesterday, Ultium Cells hosted General Motors, OnStar and the Illinois Fire Service Institute (IFSI) to deliver hands-on training to prepare local community First and Second Responders to operate safely at incidents involving Battery Electric Vehicles. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Revenue. GM ( GM) said that via the Ultium Cells LLC joint venture with LG Energy, the car marker is "exploring the feasibility of constructing a second state-of-the-art battery cell plant." A. General Motors scores a strong 8 out of 10 on the TipRanks Smart Score ranking system, implying that it is well-positioned to outperform the overall market averages. Overall, Wall Street analysts share Jonas bullish outlook on the stock. We call on the ingenuity of our people, the technology behind our ultium battery cell manufacturing and the strengths of LG Energy Solution and General Motors. 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 LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the. Tags News Storage Ultium Cells. Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle to Operate New Lithium-Ion Battery Recycling Facility Co-Located with Ultium Cells LLC's Battery Cell Manufacturing Plant in Ohio . Currencies. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. 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. 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. On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages.