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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Jisun] As the U.S. prepares for the start of Donald Trump’s second administration, LG Energy Solution (LGES) is accelerating efforts to restructure its battery supply chain in the country. The company plans to acquire a jointly operated battery plant with General Motors (GM) and develop new battery technology to boost U.S. production capacity.
On December 2 (local time), GM announced the sale of its stake in the Michigan-based Ultium Cells battery manufacturing plant, a joint venture with LGES. The facility, located in Lansing, Michigan, is being sold to LGES for an estimated $1 billion (approximately 1.4 trillion KRW). The transaction is expected to be finalized in the first quarter of next year.
The Michigan plant has an annual production capacity of 50 GWh, sufficient to produce batteries for approximately 625,000 electric vehicles.
Additionally, LGES revealed it has signed an agreement with GM to co-develop prismatic batteries and core materials. This marks LGES's first official announcement of plans to produce prismatic batteries, which will be used in GM’s next-generation EVs under the partnership.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
