South Korean battery maker LG Energy Solution said talks are ongoing with US car maker General Motors over plans for a fourth battery cell manufacturing plant in the US.
Sophia Sojeong Kim of LG Energy Solution told BEST: “Discussions on a fourth Ultium Cells JV plant remain ongoing between LG Energy Solution and GM, but no decision has been made.”
Reuters reported that a fourth joint plant had in fact been dropped, citing two unnamed sources.
The companies’ joint venture, Ultium Cells, said last August it was considering a site in New Carlisle, Indiana, for a fourth battery plant in the US. It was expected to cost around $2.5 billion.
“We’ve been very clear that our plan includes investing in a fourth US cell plant, but we’re not going to comment on speculation,” GM said in a statement on Friday.
Insiders at GM said it could still proceed with plans to build a new plant in Indiana, but with a new partner.
The two are building a $2.6 billion plant in Michigan, set to open in 2024. In December, Ultium said it would boost its investment in a $2.3 billion Tennessee plant that is set to open later this year by another $275 million.
GM said it is rapidly investing to increase cell production with LG Energy. The plants in Tennessee and Michigan are on track to open in 2023 and 2024, it added.
