Related News:Costcos 2Q Sales Soar 15% On E-Commerce Boom; Street Is BullishSplunks 4Q Results Top Wall Street Estimates; Shares Jump 5.1%Zynga Snaps Up Echtra Games; Street Says Buy. 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. The proposed battery cell manufacturing plant should be up and running by late 2023 and will likely result in the creation of 1,300 new jobs. 10 Biggest Price Target Changes For Tuesday. Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. Neha Gupta for Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a zero-emission, all-electric future. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. The analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price.. Did you know we are landfill free? From Green Power RSS Feed. Based on our 30 years of R&D experience, we deliver the most advanced batteries that have been infused with cutting-edge technologies to EVs, Energy Storage Systems (ESS) and Mobility & IT applications across the world. Indicators. Ditch the brown bag and enjoy lunch in the charging station. 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. [19] [20] Specifications [ edit] Ultium Cellsis a joint venture between General Motors and LG Energy Solution that will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. Which is why we need a team of forward-thinking folks, ready to seize the opportunity and help us charge into a more sustainable, all-electric transportation future powered by Ultium Cells batteries. Ultium Cells team is comprised of some of the finest minds in the automotive and electronics industries, but we are looking for more of those rare individuals. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. 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. 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. In 2019, GM announced the formation of Ultium Cells LLC. LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. The company established its first research facility in the U.S. in the early 2000s. Amount. 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. The General. 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. 7/26/2022. Advanced Technology Vehicles Manufacturing, U.S. Department of Energy Announces $2.5 Billion Loan to Ultium Cells for Three Domestic Battery Cell Manufacturing Facilities, LPO Offers Conditional Commitment for Loan to Build New EV Battery Cell Manufacturing Facilities in Ohio, Tennessee, Michigan, Lordstown, OH; Spring Hill, TN; Lansing, MI. Copy and paste multiple symbols separated by spaces. 2020 Benzinga.com - Benzinga does not provide investment advice. 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 The company established its first research facility in the U.S. in the early 2000s. More information on the company and its subsidiaries, includingOnStar, a global leader in vehicle safety and security services, can be found athttps://www.gm.com. Ultium Cells Job Applicant Privacy Statement. Once fully operational, the plant will create 1,700 new high-tech jobs to support the production of battery cells for GMs Ultium Platform-based EVs, including the Chevrolet Silverado EV and GMC Sierra EV. The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. 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. Automakers aiming to compete in the growing electric-car market want to secure a steady supply of batteries. 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. Additional career opportunities can be found on the Ultium Cells website. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ --. 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. . The facility will be located in Spring Hill, Tennessee. In December 2022, the Department of Energy announced the closing of a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. This new investment is in addition to the $2.3 billion investment announced in April 2021. The move, which was first reported by the Wall Street Journal, is part of the Detroit car makers strategy to expand its investment in electric vehicles. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. In 2010, the company built its first U.S battery plant in Holland, Michigan. (See GM stock analysis on TipRanks). Treasuries. With the additional investment, the capacity expansion is expected to create 400 additional new jobs, bringing the expected plant total to 1,700 new high-tech jobs when the facility is fully operational. Commenting on the proposed battery facility, GMs Chairman and CEO Mary Barra stated, The support of the state of Tennessee was an important factor in making this investment in Spring Hill possible and this type of support will be critical moving forward as we continue to take steps to transition our manufacturing footprint to support EV production. Electricity is the future of transportation, powered by battery cells that are designed and manufactured by some of the brightest, most innovative people in the world. Buoyed by the move to construct the new battery cell plant, Morgan Stanleys analyst Adam Jonas reiterated a Buy rating on the stock. 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. 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? The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Tools. Technology Innovation Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. [18] Battery materials will be supplied by LG Chem and POSCO Chemical (cathode active materials) and Livent (lithium hydroxide). Ultium Cells LLC 6,477 followers 2mo Today, we celebrated the final beam installation at our facility under construction in Lansing, Michigan alongside construction partners and ironworkers! General Motors shares are up about 41% year to date after a 13.58% pop in 2020. GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders. 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. 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. $2,500M. 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. Early conceptual rendering of Ultium Cells LLC battery cell manufacturing facility in Lansing, Michigan. Overall, Wall Street analysts share Jonas bullish outlook on the stock. 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 . 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. Jonas has an $80 price target on GM, implying 36.2% upside potential to current levels. "During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace," GM said in a statement. mesurer votre utilisation de nos sites et applications. Related News 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. 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. We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. 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." 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. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. 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. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Battery cell production at the 2.8 million-square-foot facility will begin in late 2023. 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. In 2010, the company built its first U.S battery plant in Holland, Michigan. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. 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. Sign up for notifications from Insider! Employees can receive career related educational support annually. Sharon Wrobel for How do we do this? For more information about Ultium Cells, please visit https://www.ultiumcell.com. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. -, General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade, Morgan Stanley Says, S&P, Dow edge higher as JPMorgan gains; Fed meet in focus, General Motors Lays Off 'Hundreds' of Product Development Contract Employees. Secure and increase the performance of your investments with our team of experts at your side. 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. A final selection though hasnt yet been made. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. We call on the ingenuity of our people, the technology behind our ultium battery cell manufacturing and the strengths of LG Energy Solution and General Motors. Get the latest ride including electric vehicles with Ultium Cells at a discount on General Motors Vehicles. Date. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. The new plant is likely to be a similar-size investment, the WSJ said. Additional $275 million investment and 400 more jobs for Spring Hill, Tennessee battery cell plant will increase battery cell production by more than 40 percent to 50 gigawatt-hours, Production at the 2.8 million-square-foot facility will begin in late 2023. Round. (See General Motors stock analysis on TipRanks). In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE. See General Motors stock analysis on TipRanks, Marvell Shareholders Approve Acquisition Of Inphi, AON Board Increases Quarterly Dividend By 11%, IBM Acquires myInvenio To Enhance Business Processes Automation, Do Not Sell My Personal Information (CA Residents Only). "The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future," said GM Chairman and CEO Mary Barra. Stay up to date with what you want to know. Both factories will supply the automaker with the cells needed for . Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. IBM Acquires myInvenio To Enhance Business Processes Automation. All rights reserved. Health Care Benefits start day one! Once operational, the facility will supply battery cells to GM's Spring Hill assembly plant. Electric Vehicle Charging on-site! The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. 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. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. This allows engineers to optimize battery energy storage and layout for each vehicle design. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a. The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and 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 facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. Tags News Storage Ultium Cells. . LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. Once the symbol of unrepentant gas-guzzling, the Hummer should now pass muster at any Silicon Valley cocktail party with its electric power train and zero tailpipe emissions. Real-time Estimate Cboe BZX You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. An average analyst price target of $68.15 implies 16.08% upside potential to current levels. Nous, Yahoo, faisons partie de la famille de marques Yahoo. The new battery cell plant will create 1,300 new jobs. WARREN, Ohio Ultium Cells today welcomed Ohio Governor Mike DeWine to its battery cell manufacturing facility in Ohio. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Stock Quote Recent Quotes. GM shares have ballooned 76% over the past six months, as the automaker presented investors with a strategic update on its electric vehicle (EV) vision, which includes more than $20 billion investment over the next 5 years. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. View original content: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. 0. Once complete, the plant will produce battery cells to be used in General Motors (GM) Spring Hill assembly plant. 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. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. Ultium Cells, a joint venture of LG Energy Solution and General Motors, today announced a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. Your browser does not support the video tag. Recent news which mentions Ultium Cells. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. For more information about LG Energy Solution, please visit https://www.lgensol.com. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. The proposed facility will leverage advanced cell manufacturing processes and adapt to technological advances in battery and electric vehicle production. 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. GM's proprietary Ultium battery technology is at the heart of the company's strategy to compete for nearly every EV customer in the marketplace, whether they are looking for affordable transportation, luxury vehicles, work trucks, commercial trucks or high-performance machines. 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. The facility will be located in Lansing, Michigan. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." General Motors confirmed on Thursday that the vehicle maker is weighing building a second battery cell manufacturing plant in the US with joint venture partner LG Energy Solutions. 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. A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production. But we understand that it's what's on the inside that counts, with our batteries and our people. Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. WARREN, Ohio Yesterday, Ultium Cells hosted General Motors, OnStar and the Illinois Fire Service Institute (IFSI) to deliver hands-on training to prepare local community First and Second Responders to operate safely at incidents involving Battery Electric Vehicles. 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. Shares declined 1.9% in Thursdays after-market trading. Copyright 2023 Surperformance. NOW WATCH: Here's how the million-mile battery could lead to Teslas lasting a lifetime, GM revealed earlier this year when the car company announced its battery technology, Visit Business Insider's homepage for more stories. The General Motors . GM and LG Energy Solution are investing $2.3 billion in the joint venture to support EV manufacturing in the U.S. , and in turn, local jobs, education, career training and infrastructure. The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages. Work for a growing company in a growing industry with opportunities to learn and advance. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Access your favorite topics in a personalized feed while you're on the go. The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system. December 12, 2022. GM General Motors and LG Chem have named their joint venture "Ultium Cells LLC." "Ultium" is the name that GM revealed earlier this year when the car company announced its battery. Copy and paste multiple symbols separated by spaces. "Importantly, I truly believe this coming together transcends a partnership as it marks adefining moment that will reduce emissions and help to accelerate the adoption of EVs.". More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. Overview. Investors. Ultium Cells LLC Ultium Cells LLC manufactures battery cells used in electric cars and other electric vehicles. Our temperature controlled environment will keep you comfortable all year long. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. Create your Watchlist to save your favorite quotes on Nasdaq.com. Jonas believes that for General Motors to capitalize on the opportunity, it will need to develop its ability to attract and retain capital and people. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. GM (GM) said that via the Ultium Cells LLCjoint venture with LG Energy, the car marker is exploring the feasibility of constructing a second state-of-the-art battery cell plant. A decision should be made by the first half of 2021, the US vehicle maker said. We look forward to a positive working relationship with the UAW. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com. 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 is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. The plant is to be built by Ultium Cells LLC, a joint venture between the two companies. Valuation. Type a symbol or company name. In August this year, 85% of Ultium Cells workers signed. Currencies. The addition of a second Ultium Cells battery cell manufacturing plant will mark an important milestone in GM's push for an electric future. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. Stocks. Energy options range from 50 to 200 kilowatt hours, which could enable a GM-estimated range up to 450miles or more on a full charge with 0-60 mph acceleration in 3 seconds1. 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. 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 United States.
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