2022 GMC Hummer EV sport utility truck “Edition 1”
The automaker confirmed the plans Thursday morning after the Wall Street Journal reported the businesses have been near a choice to find the plant in Tennessee, however a ultimate choice hadn’t been made. GM mentioned it hopes “to have a decision on the potential project” by June.
Through their Ultium Cells LLC three way partnership, GM and LG are at the moment spending $2.3 billion for a brand new battery cell plant in Ohio. The plant is anticipated to be accomplished in 2022, permitting the automaker to decrease prices and convey automobiles to market extra rapidly. The plant is taken into account a lynchpin to GM’s plans for its next-generation EVs to be worthwhile.
GM is anticipated to launch 20 new or redesigned EVs as half of its $27 billion funding plan from 2020 by means of 2025.
Ultium is GM’s next-generation batteries and platform, which is anticipated to debut later this yr in the GMC Hummer EV pickup. The first automobiles should not anticipated to incorporate Ultium battery cells from the plant that is at the moment beneath construction.
Outgoing GM Chief Sustainability Officer Dane Parker final yr mentioned the automaker would wish to make extra funding in battery manufacturing capability. He mentioned the rise would probably be a mixture of new services and retrofitting present crops.
“We’re able to, in many cases, retrofit existing propulsion plants to do that,” he mentioned throughout a Goldman Sachs convention in December. “In some cases, we’ll be building new ones.”
Amid an ongoing semiconductor chip scarcity that is impacting car manufacturing globally, there was a rising curiosity in restructuring car provide chains, particularly for increased tech elements, together with battery cells. The White House final week ordered a overview of the U.S. battery provide chain.
“We need to bring battery production to the U.S.,” Ford CEO Jim Farley mentioned final month throughout a Wolfe Research convention. “We can’t go through what we’re doing with chips right now in Taiwan. It’s just important.”
Ford has not introduced any plans for investing in U.S. battery manufacturing. Most batteries at the moment are manufactured in Asia and Europe. Tesla at the moment operates an enormous battery and cell manufacturing facility with panasonic in Nevada. Tesla additionally advised traders in September that it began producing its personal cells at a pilot plant in Fremont, California.