From Green Power RSS Feed. Electricity is the future of transportation, powered by battery cells that are designed and manufactured by some of the brightest, most innovative people in the world. The facility will be located in Lansing, Michigan. General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade.. General Motors' Traditional Franchise Can Still Spur Billions of Dollars in Cash Flow, .. GM cuts several hundred full-time contract workers, General Motors Co Says Small Number Of Contractors Have Departed Co - Spokesperson, General motors co says says impacted contractors were notified b, General motors co says small number of contractors have departed. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. 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. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of FY . Ultium Cells expects to have more than 130 GWh of battery cell capacity when all three facilities are at full production capacity later this decade a key enabler to GM's commitment to lead the industry in EVs. International. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. In 2010, the company built its first U.S battery plant in Holland, Michigan. Revenue. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. 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. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. GM shares have ballooned 76% over the past six months, as the automaker presented investors with a strategic update on its electric vehicle (EV) vision, which includes more than $20 billion investment over the next 5 years. LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Jonas has an $80 price target on GM, implying 36.2% upside potential to current levels. Investors. Ultium Cells will build the new plant on land leased from GM. The. 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. Treasuries. Employees can receive career related educational support annually. We look forward to a positive working relationship with the UAW. But we understand that it's what's on the inside that counts, with our batteries and our people. ETFs. 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. 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. 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. Type a symbol or company name. 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 DOE closes $2.5B loan for Ultium Cells battery production. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Latest news about Ultium Cells - Stock Market - CloudQuote 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. 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. SPRING HILL, Tenn. Ultium Cells today welcomed U.S. Treasury Secretary Janet Yellen to its battery cell manufacturing facility under construction in Spring Hill. 7/26/2022. 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. 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, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a zero-emission, all-electric future. Ultium Cells LLC | LinkedIn Markets. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Overall, Wall Street analysts share Jonas bullish outlook on the stock. Stock Market | Stock Quote - Fat Pitch Financials The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Type a symbol or company name. Advanced Technology Vehicles Manufacturing, U.S. Department of Energy Announces $2.5 Billion Loan to Ultium Cells for Three Domestic Battery Cell Manufacturing Facilities, LPO Offers Conditional Commitment for Loan to Build New EV Battery Cell Manufacturing Facilities in Ohio, Tennessee, Michigan, Lordstown, OH; Spring Hill, TN; Lansing, MI. 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. Sources. Both factories will supply the automaker with the cells needed for . . 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. Ultium Cells is taking the appropriate steps to support GMs plan for more than 1 million units of EV capacity in North America by mid-decade., Ultium Cells will play a critical role in making GMs commitment to an all-electric future a reality, said Tim Herrick, GMs vice president of EV Launch Excellence. AON Board Increases Quarterly Dividend By 11% Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. 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. Copy and paste multiple symbols separated by spaces. 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). 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 United States. Tools. News. The Strong Buy consensus rating shows 11 Buys versus 1 Hold. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Why GM's Stock . Morgan Stanley Raises General Motors Target On Ultium Valuation - Yahoo 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 United States. Additional career opportunities can be found on the Ultium Cells website. This investment will allow us to provide our customer GM more battery cells faster and support GMs aggressive EV launch plan in the coming years, said Tom Gallagher, Ultium Cells LLC vice president of operations. 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. Ultium Cells Lansing Delta Township facility in Michigan is under construction and will start production in late 2024. This new investment is in addition to the $2.3 billion investment announced in April 2021. General Motors shares are up about 41% year to date after a 13.58% pop in 2020. December 12, 2022. Jonas has an $80 price target on GM,. 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. 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. Ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute to the expansion of Zero-Emission propulsion on a global scale. 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. WARREN, Ohio Ultium Cells today welcomed Ohio Governor Mike DeWine to its battery cell manufacturing facility in Ohio. Access your favorite topics in a personalized feed while you're on the go. Loan. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. Last Updated December 2022. 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. Ultium Cells Job Applicant Privacy Statement. GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. Once operational, the facility will supply battery cells to GM's Spring Hill assembly plant. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." The General. Once complete, the plant will produce battery cells to be used in General Motors (GM) Spring Hill assembly plant. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet,Buick,GMC,Cadillac, Baojunand Wulingbrands. 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." For more information about Ultium Cells, please visit https://www.ultiumcell.com. The facility will be located in Spring Hill, Tennessee. Real-time Estimate Cboe BZX (See General Motors stock analysis on TipRanks). These symbols will be available throughout the site during your session. Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. Marvell Shareholders Approve Acquisition Of Inphi In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors.
