GM's battery partnership with LG Chem will have 2 major benefits as the company begins the transition to electric vehicles

On Thursday, General Motors and LG Chem announced that they will split ownership of a battery-production joint venture. Demand for batteries is set to rise dramatically over the next decade as automakers increase electric-vehicle production. GM may have opted for a joint venture over merely continuing to buy batteries from LG Chem because it wanted to have more control over its battery supply, said David Whiston, an industrials analyst at Morningstar.

On Thursday, General Motors and LG Chem announced that they will split ownership of a battery-production joint venture. Demand for batteries is set to rise dramatically over the next decade as automakers increase electric-vehicle production. GM may have opted for a joint venture over merely continuing to buy batteries from LG Chem because it wanted to have more control over its battery supply, said David Whiston, an industrials analyst at Morningstar.

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GM and LG Chem are partnering to localize EV battery production - Business InsiderGM and battery manufacturer LG Chem announced a $2.3 billion joint venture to create an electric vehicle battery plant near Lordstown, Ohio.
Source: BusinessInsider - 🏆 729. / 51 Read more »

GM and LG Chem are partnering to localize EV battery production - Business InsiderGM and battery manufacturer LG Chem announced a $2.3 billion joint venture to create an electric vehicle battery plant near Lordstown, Ohio.
Source: BusinessInsider - 🏆 729. / 51 Read more »