LG Energy Solution – GM JV Suspends Construction of 3 Battery Plants in US.
Ultium Cells, a US joint venture between LG Energy Solution and General Motors (GM) have suspended the construction of an EV battery plant in the United States due to a temporary slowdown in global demand for electric vehicles (EVs).
According to industry sources, the two companies have decided to pause the construction of EV Battery Plant 3 in Michigan of the United States. They were building the plant with the aim of starting its operations in 2025. The completion of the third plant scheduled for the second half of this year will be pushed back to 2025 or later, some analysts forecast.
Of the five lines at the plant, only two have received some equipment. The schedule for the remaining lines has been put on hold.
Ultium Cells had originally aimed to begin first-phase volume production early next year, ramping up to annual production of 50 gigawatt hours (GWh). This is enough to produce about 700,000 high-performance EVs that can run more than 500 kilometers on a single charge.
In June, LG Energy Solution suspended the construction of a lithium iron phosphate (LFP) battery plant for energy storage systems (ESSs) in Arizona of the United States just two months after breaking ground for the plant.
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LG Energy Solution – GM JV Suspends Construction of 3 Battery Plants in US. source
