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

Cadillac Escalade IQ is the name of the first all-electric Escalade. This has been revealed today by GM with a promise for a full model reveal "later this year". This model will joint the LYRIQ and CELESTIQ as Cadillac continues to build its all-electric portfolio. The Escalade IQ will enjoy the same commitment to craftsmanship, technology and performance that have been a part of the Escalade brand for the past 20...

22 May 2023

Magna is taking electrification to the next level of efficiency and range to help meet evolving customer requirements. Today, the company has announced it has been awarded a high-volume contract with a Europe-based Global Premium OEM to supply its new eDrive system (eDS Mid). The eDrive is planned for 2027 model SUVs/sedans, with production expected to begin in 2026. Magna's eDS Mid is a compact, high-speed e-motor...

3 May 2023

General Motors and Samsung SDI announced today they plan to invest more than $3 billion to build a new battery cell manufacturing plant in the United States that is targeted to begin operations in 2026. The plant will have more than 30 GWh of capacity and will bring GM's total U.S. battery cell capacity to about 160 GWh when it is at full production. The companies plan to jointly operate the facility, and it is...

25 April 2023

GMC has released new specifications for the 2023 HUMMER EV Pickup and the 2024 GMC HUMMER EV SUV, including the 3X trim for both models of the supertruck. They are built at GM’s Factory ZERO Detroit-Hamtramck Assembly Center, where the GMC Sierra EV Denali Edition 1 will also be built. The 2023 GMC HUMMER EV Pickup brings with it the continuation of the all-inclusive Edition 1 trim and the debut of the 3X trim...

22 April 2023

General Motors and its dealers delivered 603,208 vehicles in the U.S., up 18%, in the first quarter of 2023, growing market share by an estimated 1.5 points, the largest of any automaker. GM delivered a strong start to the year with sales of more than 20,000 EVs as it scales production of vehicles on the Ultium Platform, and expanded truck leadership with launches of new HD and midsize pickup trucks. GM is on track...

4 April 2023

LG Energy Solution today announced it will invest approximately KRW 7.2 trillion (USD 5.5 billion) to construct a battery manufacturing complex in Queen Creek, Arizona. The complex will consist of two manufacturing facilities - one for cylindrical batteries for electric vehicles (EV) and another for lithium iron phosphate (LFP) pouch-type batteries for energy storage systems (ESS). It marks the largest single...

24 March 2023

According to The Elec, Samsung SDI will supply cylinder batteries for EVs to General Motors. For the purpose, the two companies will establish a joint venture that will build a battery factory with an annual capacity of 30GWh. So far, GM has been using pouch batteries from LG Energy Solution but last month it said it considers all types of cells. Samsung SDI has already announced its plans to invest 40 trillion won...

8 March 2023

Piedmont Lithium, a leading global developer of lithium resources critical to the U.S. electric vehicle supply chain, announced that it has signed agreements with LG Chem, under which LG Chem will make a $75 million equity investment in Piedmont and commit to the offtake of 200,000 metric tons of spodumene concentrate (SC6) from Piedmont's jointly-owned North American Lithium over a four-year term. LG Chem will...

19 February 2023

Magna announced that it has secured new business from General Motors (GM) to supply battery enclosures for the all-new 2024 Chevrolet Silverado EV. The company will produce the enclosures at its Magna Electric Vehicle Structures facility in St. Clair, Michigan, where it already produces the battery enclosure for the GMC HUMMER EV Pickup and the GMC HUMMER EV SUV. Magna recently announced significant investment plans...

14 February 2023

2024 Cadillac LYRIQ for the North America market has been unveiled. It will arrive with RWD and AWD systems. Up to now, the AWD variant was available in China only and was introduced there in December 2022. The power and torque for MY2024 remain the same. The AWD variant delivers a total system power of 365 kW / 500 hp and a total system torque of 610 Nm / 450 ft-lbs. The RWD variant delivers 255 kW / 340 hp of...

8 February 2023

According to SNE Reasearch, the global battery usage for 2022 has been 518GWh - a 517.9% growth YoY. For this year, the research agency expects 749 GWh of batteries to be deployed in EVs, PHEVs, and HEVs. Being a South Korean company, SNE Research pays special attention to the three local companies that are major players in the EV battery market - Samsung SDI, SK On, and LG Energy Solution. Their production is...

8 February 2023

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