GM, LG Venture Get $2.5 Billion from Government for Lithium-Ion Battery Plants

Dec. 12, 2022

The joint venture would lead to four plants and 11,000 new jobs.

Dec. 9, 2022—A $2.5 billion low-cost loan has been approved for General Motors and LG Energy Solution to fund three lithium-ion battery cell plants.  

The loan, provided by U.S. Energy Department, will enable the companies to build manufacturing facilities in Ohio, Tennessee and Michigan and will reportedly provide 11,000-plus jobs.  

According to Reuters, GM and LG Energy are targeting Indiana for a future plant site and anticipate the Michigan plant’s opening in 2024. 

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Ratchet+Wrench Staff Reporters

The Ratchet+Wrench staff reporters have a combined two-plus decades of journalism and mechanical repair experience.

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