LG Magna E-Powertrain celebrates groundbreaking of new facility in Mexico

General Motors and Lithium Americas announced they will jointly invest to develop the Thacker Pass mine in Nevada, which is the largest known source of lithium in the United States and the third largest in the world. Under the agreement, GM will make a $650 million equity investment in Lithium Americas, which represents the largest-ever investment by an automaker to produce battery raw materials. Lithium Americas...

31 January 2023

LG Energy Solution and Honda announced the formal establishment of the joint venture (JV) which will produce lithium-ion batteries for electric vehicles (EV) produced by Honda. The JV will begin construction of a new battery plant early this year with the goal of completion by the end of 2024 and starting mass production of advanced lithium-ion battery cells by the end of 2025. The plant aims to have an annual...

16 January 2023

According to Digitimes Research reported by Digitimes Asia, the global sales of electric vehicles have reached 9.78 million units in 2022. The projected growth for this year is 49% to 14 million units sold globally. Of those, 9 million are expected to be sold in China only. Even now, China's share of the global EV sales is higher than 60%. For comparison, Europe sales account for 24% of the total sales, and USA...

11 January 2023

General Motors successfully scales EV production capacity in North America to more than 1 million units per year. Hence, it predicts that its complete portfolio of BEVs will be "solidly profitable in 2025." As to achieve its goals, the brand aims at achieving 20% of all EV sales in the USA in 2025. This goal will be achieved via multiple entries in pickup, SUV and luxury segments that represent about 70% of EV...

18 November 2022

Vale Canada and General Motors signed a term sheet for the long-term supply of battery-grade nickel sulfate from Vale's proposed plant at Bécancour, Québec, Canada. This agreement secures for GM a supply of nickel sulfate from a U.S. free-trade partner to support its fast-growing EV production needs in North America. Vale and GM have also agreed to study collaborative ways to partner on advanced technology...

18 November 2022

General Motors announced the introduction of Ultium Home and Ultium Commercial, which in combination with the existing Ultium Charge 360, create a holistic ecosystem of energy management products and services that will be housed under a new business unit called GM Energy. GM Energy's connected product and service offerings are designed to offer cohesive energy management for home, commercial and EV customers, with...

12 October 2022

Honda and LG Energy Solution announced that their new joint venture (JV) battery plant will be located in Fayette County, Ohio, about 40 miles southwest of Columbus, where the two companies will commit to investing $3.5 billion and creating 2,200 jobs, pending final government approvals. The companies' overall investment related to the JV is projected to reach $4.4 billion. The joint venture between Honda and LGES...

12 October 2022

General Motors will invest $760 million at its Toledo, Ohio propulsion manufacturing operations to prepare the facility for production of drive units that will be used in future Ultium-based battery electric trucks, including the Chevrolet Silverado EV, GMC Sierra EV and GMC HUMMER EVs. Toledo Propulsion Systems will be GM’s first U.S. powertrain or propulsion-related manufacturing facility transformed for...

28 September 2022

General Motors and Environmental Defense Fund today announced a set of recommendations that seek to accelerate a zero-emissions, all-electric future for passenger vehicles in the model year 2027 and beyond. The recommendations were jointly developed by GM and EDF to support the next tier of EPA clean car standards. GM and EDF encourage EPA to establish standards aimed at ensuring that at least 50% of new vehicles...

22 September 2022

Lithion Recycling and General Motors today announced that GM Ventures, the automaker's investment arm, has made a strategic investment in Lithion's Series A financing round, supporting a new GM-Lithion strategic partnership agreement to pursue a circular battery ecosystem using Lithion's advanced battery recycling technology. With a recovery rate of over 95% and using Québec's green energy, Lithion's technology and...

22 September 2022

LG Energy Solution (LGES) today announced its mid to long term corporate strategies, with the goal of more than tripling revenue in five years and achieving double-digit operating profit margin. The company also increased the annual revenue target to KRW 22 trillion. At the second quarter earnings conference call, LGES said it would increase revenue over three times in five years, by expanding JVs with OEMs in North...

27 July 2022

LG Electronics today announced it has acquired South Korean electric vehicle (EV) charger solutions provider, AppleMango Co., Ltd., jointly with GS Energy and GS Neotek. The acquisition is expected to accelerate the growth of LG's EV charging solution business and enable the company to take advantage of future business opportunities. This strategic move, combined with LG's own expertise and wealth of experience in...

27 June 2022

Yesterday, LG Energy Solution said that it will invest 730 billion won in its Ochang facility to expand the production capacity of cylinder batteries. 580 million won of those will go to the site's second factory, increasing the 4680 batteries' annual capacity by 9 GWh. The rest of the investment will be used in the first factory for increasing by 4 GWh the annual capacity of the 2170 batteries. The production...

14 June 2022

Cadillac reached another electric vehicle milestone today in China with the start of pre-production of the LYRIQ at SAIC-GM's Cadillac plant in Shanghai. The first all-electric vehicle from GM's luxury brand has now entered its final stage of development in China before mass production and deliveries to customers. This stage includes optimizing the manufacturing process, conducting reliability tests and carrying out...

7 May 2022