General Motors (GM) and South Korea’s LG Chem will reportedly announce plans on Friday to build a massive new EV battery plant in the US.
According to industry sources who spoke to Reuters, the deal will see the new factory built in Spring Hill, Tennessee and be worth $2.3 billion.
The plant will supply Ultium battery cells for the upcoming Cadillac Lyriq electric SUV. The Spring Hill plant will reportedly use a more effective battery chemistry than those produced at their facility in Lordstown, Ohio.
No details are known about when the plant will open. The Lyriq is scheduled to begin production sometime next year, but the sources said it will receive its battery cells from a different source until the Spring Hill plant is complete.
Tennessee will also soon be home to another EV maker. Volkswagen’s Engineering and Planning Center (EPC) for EVs in Chattanooga, Tennessee is scheduled to open this spring.