All rights reserved. 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. The facility will be located in Spring Hill, Tennessee. LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. Overview. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. We are looking for talented individuals with diverse skills, experiences, and a can-do spirit to grow with us in Warren, Ohio,Spring Hill, Tennessee, and Lansing, Michigan. . 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. When fully operational in 2022, the $2.3 billion Ultium Cells LLC plant in Lordstown will span three million-square-feet, with annual capacity of approximately 35 gigawatt hours. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. U.S. Department of Energy LP 101000 Independence Avenue, SWWashington D.C. 20585, New Factories in Ohio, Tennessee, and Michigan Will Create More than 11,000 Good-Paying Jobs and Reduce the Nations Reliance on Other Countries to Meet Increased Demand for Electric Vehicle Technologies, Today the Department of Energys Loan Programs Office (LPO) announced a conditional commitment to Ultium Cells LLC for a $2.5 billion loan to help finance the construction of new lithium-ion (Li-ion) battery cell manufacturing facilities in OH, TN, MI. 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. WARREN, Ohio In honor of Breast Cancer Awareness Month, Ultium Cells teamed up with the Joanie Abdu Comprehensive Breast Care Center (JACBCC) in nearby Youngstown, Ohio, to spread awareness and raise money for Joanie's Promise, a program that ensures anyone in the community in need of diagnostic breast care services has access to the best care available regardless of their ability to pay. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. 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. Type a symbol or company name. Tags News Storage Ultium Cells. Stocks. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ --. Ultium Cells LLC - Spring Hill, Tennessee plant in brief: General Motors and LG Chem joint venture (50/50) manufacturing of lithium-ion battery cells for electric vehicles; 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. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. All rights reserved. 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." To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. 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. LG Energy Solution will employ its decades-long experience in battery technology and manufacturing to produce quality products as we demonstrate our reputation as an industry leader delivering unparalleled consumer value.. This new investment is in addition to the $2.3 billion investment announced in April 2021. Most will have 400-volt battery packs and up to 200 kW fast charging capability while GM's truck platform will have 800-volt battery packs and 350kW fast charging capability. 10 Biggest Price Target Changes For Tuesday. LORDSTOWN, Ohio - GM continues to advance toward an all-electric, zero-emissions future with the construction of its nearly 3 million-square-foot Ultium Cells LLC battery cell manufacturing facility in Lordstown. Morgan Stanley analyst Adam Jonas last month maintained a Buy rating on the stock with a $80 price target (54% upside potential) following recent talks with investors, which point to a rising interest in what he calls "the individual 'hidden gems' within" GMs technology and services portfolio, including scalable technologies in electric, connected and autonomous vehicle end markets. Battery cell production at the 2.8 million-square-foot facility will begin in late 2023. AON Board Increases Quarterly Dividend By 11% When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Type a symbol or company name. Investors. General Motors shares are up about 41% year to date after a 13.58% pop in 2020. 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. The facility will supply battery cells to GMs Spring Hill assembly plant for production of the Cadillac LYRIQ and other GM Ultium Platform-based EVs. DOE closes $2.5B loan for Ultium Cells battery production. 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 General Motors scores a strong 8 out of 10 on the TipRanks Smart Score ranking system, implying that it is well-positioned to outperform the overall market averages. LANSING, Mich. Ironworkers, construction partners and Ultium Cells leadership today celebrated the final beam installation at the Ultium Cells battery cell manufacturing facility under construction in Lansing, Michigan. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility install the final beam as part of a traditional topping out ceremony Wednesday, June 8, 2022 in Spring Hill, Tennessee. Ultium Cells is committed to using the most technologically advanced methods in the industry to produce the very best of those battery cells, now and for generations to come. Sign up for notifications from Insider! 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). The cells manufactured by Ultium Cells LLC are large format, pouch-type cells that use a state-of-the-art nickel-cobalt-manganese-aluminum (NCMA) chemistry to deliver more range at less cost. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. Valuation. We have received election results from the National Labor Relations Board (NLRB) and respect the decision of our Ohio workforce supporting representation by the UAW. mesurer votre utilisation de nos sites et applications. For more information about LG Energy Solution, please visit https://www.lgensol.com. Create your Watchlist to save your favorite quotes on Nasdaq.com. A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production. Employees can receive career related educational support annually. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. . Written by Address: 7400 Tod Ave SW Warren, OH, 44481-9627 United States See other locations Phone: Website: www.ultiumcell.com Employees (this site): Modelled Employees (all sites): Actual Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. 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 Job Applicant Privacy Statement. Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. The facility will be located in Lansing, Michigan. The General Motors . According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. Electric Vehicle Charging on-site! The Strong Buy consensus rating shows 11 Buys versus 1 Hold. Ultium Cells will build the new plant on land leased from GM. Lithium cells can produce voltages from around 1.5V (comparable to a zinc-carbon or alkaline battery) to around 3.7V, depending on the design and chemical compounds that were used in the. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. If our forecasts for the long term growth of the global EV market are even remotely in the ballpark, we believe there will be plenty of room to go around for competing EV supply beyond the likes of Tesla," Jonas wrote in the note. 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. With shares up 25% so far this year, the average analyst price target of $63.67 suggests additional 23% upside potential lies ahead over the coming year. Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS, supply its Hydrotec fuel cell power cubes, HUMMER EV SUV and the Chevrolet Silverado electric pickup truck, 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, GM's zero-emissions technology will extend to fuel cells as the company announced it will.

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