GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. GM and LG Energy Solution are investing $2.3 billion in the joint venture to support EV manufacturing in the U.S. , and in turn, local jobs, education, career training and infrastructure. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. LANSING, Mich. Ironworkers, construction partners and Ultium Cells leadership today celebrated the final beam installation at the Ultium Cells battery cell manufacturing facility under construction in Lansing, Michigan. This new investment is in addition to the $2.3 billion investment announced in April 2021. He added, however, that there are several risks around the company generating credit for its battery capacity. 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. 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. Tools. The company established its first research facility in the U.S. in the early 2000s. December 12, 2022. For more information about Ultium Cells, please visit https://www.ultiumcell.com. Round. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. 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. Both factories will supply the automaker with the cells needed for . General Motors shares are up about 41% year to date after a 13.58% pop in 2020. Investors. The analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price.. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. In 2010, the company built its first U.S battery plant in Holland, Michigan. When fully operational in 2022, the $2.3 billion Ultium Cells LLC plant in Lordstown will span three million-square-feet, with annual capacity of approximately 35 gigawatt hours. Li-Cycle - Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle 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. Ultium Cells LLC Announces Plans to Pr | Ultium Cells LLC Ultium Cells LLC Company Profile | Warren, OH - Dun & Bradstreet 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 facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. News. Type a symbol or company name. Morgan Stanley Raises General Motors Target On Ultium Valuation - Yahoo Written by 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.. Altium Limited (ALU.AX) Stock Price, News, Quote & History - Yahoo Finance U.S. markets open in 15 minutes S&P Futures Dow Futures -17.00(-.13%) -2.80(-0.16%) (-2.54%) Altium Limited (ALU.AX). 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. 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. GM General Motors and LG Chem have named their joint venture "Ultium Cells LLC." "Ultium" is the name that GM revealed earlier this year when the car company announced its battery. Ultium has said that hourly workers currently make between $16 and $22 an hour with full benefits, incentives and tuition assistance. We are looking for talented individuals with diverse skills, experiences, and a can-do spirit to grow with us in Warren, Ohio,Spring Hill, Tennessee, and Lansing, Michigan. . Copy and paste multiple symbols separated by spaces. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. An average analyst price target of $68.15 implies 16.08% upside potential to current levels. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. General Motors : Ultium Cells LLC and Li-Cycle Collaborate to Expand Take care of yourself and your family with great benefits. Deutsche Bank Adjusts General Motors Price Target to $35 From $37, Maintains Hold Ratin.. Chief Financial Officer & Executive Vice President, CTO, Vice President-Global Research & Development. 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. U.S. Department of Energy. 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. Copyright 2023 Surperformance. GM And LG To Invest $2.3B In Tennessee Manufacturing Plant 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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! 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. Create your Watchlist to save your favorite quotes on Nasdaq.com. [19] [20] Specifications [ edit] 2023 Canjex Publishing Ltd. All rights reserved. Ultium battery cells feature nickel-cobalt-manganese-aluminum (NCMA) chemistry, and will be manufactured by Ultium Cells LLC, a joint-venture of GM and LG Energy Solution. With the additional investment, the capacity expansion is expected to create 400 additional new jobs, bringing the expected plant total to 1,700 new high-tech jobs when the facility is fully operational. Type a symbol or company name. mesurer votre utilisation de nos sites et applications. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. GM and LG Energy Solution Investing $2.6 Billion to Build 3rd Ultium Cells Manufacturing Plant in Lansing ETFs. Ultium - Wikipedia Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Revenue. Stock Quote Recent Quotes. 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. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. 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. 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). Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. Li-Cycle - Li-Cycle and Ultium Cells LLC Announce Agreement on Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. 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. Ultium Cells Hosts Battery Electric Vehicle Training in Partnership With GM, OnStar and the Illinois Fire Service Institute, Ultium Cells Lansing Celebrates Completion of Steel Installation, Holds Topping Out Ceremony, Ultium Cells Welcomes Treasury Secretary Janet Yellen To Spring Hill, Statement from Ultium Cells on Ohio Union Vote, Ultium Cells Job Applicant Privacy Statement. Real-time Estimate Cboe BZX GM confirms $2.3 billion investment with LG in battery cell - Electrek Ultium Cells LLC | LinkedIn By expanding battery cell output at Ultium Cells Spring Hill, this investment will help GM offer customers the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership., The increased cell production capacity at Ultium Cells will power more EVs in North America, moving toward a greener future," said Charles Oh Young Hyun, president at LG Energy Solution Michigan. These symbols will be available throughout the site during your session. Jonas listed Cadillac, Corvette, OnStar, China JVs, GM Hydrotec, GM Financial, Ultium EV batteries and Cruise robotaxis among the businesses, which he named the arms of the "GM SPACtopus." 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. The. Sign up for notifications from Insider! GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." General Motors has made several announcements in the last 18 months that underscore its commitment to an all-electric, zero-emissions future, including: General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. 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. The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Employees can receive career related educational support annually. Most will have 400-volt battery packs and up to 200 kW fast charging capability while GM's truck platform will have 800-volt battery packs and 350kW fast charging capability. 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. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet,Buick,GMC,Cadillac, Baojunand Wulingbrands. AON Board Increases Quarterly Dividend By 11% US: GM To Build Two Additional Battery Cell Plants - InsideEVs Jonas has an $80 price target on GM, implying 36.2% upside potential to current levels. 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. In 2010, the company built its first U.S battery plant in Holland, Michigan. Marvell Shareholders Approve Acquisition Of Inphi The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. 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. [18] Battery materials will be supplied by LG Chem and POSCO Chemical (cathode active materials) and Livent (lithium hydroxide). More information on the company and its subsidiaries, includingOnStar, a global leader in vehicle safety and security services, can be found athttps://www.gm.com. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Morgan Stanley Raises General Motors Target On Ultium Valuation Recent news which mentions Ultium Cells. Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. 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. Did you know we are landfill free? From Green Power RSS Feed. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. The facility will be located in Lansing, Michigan. This allows engineers to optimize battery energy storage and layout for each vehicle design. 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. 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. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. Overview. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. "The support of the state of Tennessee was an important factor in making this investment in Spring Hill possible and this type of support will be critical moving forward as we continue to take steps to transition our manufacturing footprint to support EV production. In August this year, 85% of Ultium Cells workers signed. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. 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. "During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace," GM said in a statement. Latest News about Ultium Cells. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. ULTIUM CELLS | Department of Energy Ultium Cells will build the new plant on land leased from GM. dvelopper et amliorer nos produits et services. All rights reserved. 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. The company established its first research facility in the U.S. in the early 2000s. Markets. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The General Motors . "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.". The new battery cell plant will create 1,300 new jobs. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. Top 11 Lithium and Battery Stocks to Buy Now - Yahoo Finance Copy and paste multiple symbols separated by spaces. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. Related News The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and battery production. By: Li . 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. Ultium Cells will build the new plant on land leased from GM. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. But we understand that it's what's on the inside that counts, with our batteries and our people. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE. Get the latest ride including electric vehicles with Ultium Cells at a discount on General Motors Vehicles. 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 GWh, when the Valuation. 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. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ --. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Amount. Ultium Cells Job Applicant Privacy Statement. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. The new plant is likely to be a similar-size investment, the WSJ said. 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. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. 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. In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors. 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. International. General Motors (GM) Ultium Cells Workers Vote to Join UAW - Yahoo Finance Additional career opportunities can be found on the Ultium Cells website. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. 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 . Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. 2020 Benzinga.com - Benzinga does not provide investment advice. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Currencies. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. TipRanks->. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. Battery cell production at the 2.8 million-square-foot facility will begin in late 2023. 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. LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. 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. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. Ultium Cells LLC - Spring Hill, Tennessee plant in brief: General Motors and LG Chem joint venture (50/50) manufacturing of lithium-ion battery cells for electric vehicles; 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. 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. $2,500M. GM Accelerates its Drive to Lead the EV Industry with $7 Billion Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. Access your favorite topics in a personalized feed while you're on the go. GM Opens Up a New Front in Its Battle With Tesla: Batteries News | Ultium Cells LLC 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. 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. 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. 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. Once complete, the plant will produce battery cells to be used in General Motors (GM) Spring Hill assembly plant. A final selection though hasnt yet been made. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. "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. 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. Type a symbol or company name. The proposed facility will leverage advanced cell manufacturing processes and adapt to technological advances in battery and electric vehicle production. Create your Watchlist to save your favorite quotes on Nasdaq.com. LG Energy Solution will employ its decades-long experience in battery technology and manufacturing to produce quality products as we demonstrate our reputation as an industry leader delivering unparalleled consumer value.. Nous, Yahoo, faisons partie de la famille de marques Yahoo.