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. Jonas has an $80 price target on GM,. 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. Morgan Stanley Raises General Motors Target On Ultium - Benzinga The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. Last Updated December 2022. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of A final selection though hasnt yet been made. 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 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. This investment will allow us to provide our customer GM more battery cells faster and support GMs aggressive EV launch plan in the coming years, said Tom Gallagher, Ultium Cells LLC vice president of operations. The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and battery production. 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. 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. 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. 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. Ultium Cells LLC - Company Profile and News - Bloomberg Markets 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. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. Type a symbol or company name. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. 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 . Did you know we are landfill free? News | Ultium Cells LLC AON Board Increases Quarterly Dividend By 11% ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. We look forward to a positive working relationship with the UAW. Ultium Cells LLC | LinkedIn 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. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. The facility will be located in Lansing, Michigan. Ultium Cells expects to have more than 130 GWh of battery cell capacity when all three facilities are at full production capacity later this decade a key enabler to GM's commitment to lead the industry in EVs. Stocks. Investors. 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. Team members and construction partners gathered to recognize this historic milestone, occurring just over one year after construction began and without a lost-time incident. For more information about Ultium Cells, please visit https://www.ultiumcell.com. 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. 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. 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. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. 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. The company established its first research facility in the U.S. in the early 2000s. Valuation. Ultium Cells LLC Company Profile | Warren, OH - Dun & Bradstreet To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. (See General Motors stock analysis on TipRanks). LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Overview. 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. 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. 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. Treasuries. Ultium Cells is taking the appropriate steps to support GMs plan for more than 1 million units of EV capacity in North America by mid-decade., Ultium Cells will play a critical role in making GMs commitment to an all-electric future a reality, said Tim Herrick, GMs vice president of EV Launch Excellence. 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. The. 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." Top 11 Lithium and Battery Stocks to Buy Now - Yahoo Finance 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. By expanding battery cell output at Ultium Cells Spring Hill, this investment will help GM offer customers the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership., The increased cell production capacity at Ultium Cells will power more EVs in North America, moving toward a greener future," said Charles Oh Young Hyun, president at LG Energy Solution Michigan. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. From Green Power RSS Feed. 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 company established its first research facility in the U.S. in the early 2000s. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. The new factory is located near the old Lordstown plant, and GM has said that it will be staffed with UAW workers and create 1,100 new jobs. 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. Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. mesurer votre utilisation de nos sites et applications. 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). 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. Li-Cycle - Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle 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. 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. $2,500M. Amount. News. ULTIUM CELLS | Department of Energy The General. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. 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.
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