GM plans two more battery production plants in the US
That'll make four plants supplying batteries for a slew of future electric vehicles.
Where will the next two battery plants land?
General Motors, in its second-quarter earnings report, disclosed plans for two additional battery production plants in the US on Wednesday. It brings the automaker's running total to four planned sites in the country. The first is under construction near Lordstown, Ohio, while the second will call Spring Hill, Tennessee, home.
The automaker didn't provide details on where the next two plants will land, but the automaker promised the new facilities will create "thousands" of jobs.
GM will need these factories, which it plans to operate via a joint venture with South Korea's LG Chem called Ultium Cells, as it continues to add more EVs to its product portfolio. The automaker has 30 new EVs coming for North America and China by 2025, though don't expect each one to be sold here in the US. Some of these will surely be exclusive to China and tailored to drivers abroad.
We don't have a price tag on what GM plans to invest for the next two battery facilities, but the firm's most recent investment tallied $2.3 billion. The automaker has a whopping $35 billion earmarked to invest in electric and autonomous vehicles, though, so these plants are merely a drop in the bucket on GM's balance sheet.
The news comes as GM, other automakers and the United Auto Workers union join a White House pledge that by 2030, 50% of vehicles sold in the US will be electric.
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