25 °C Singapore, SG
January 22, 2021
Latest News
Kerry climate team begins to take shape Australia not among 50 countries vowing to protect 30 per cent of land and sea by 2030 Investors pressure HSBC to take stronger action to phase out coal financing Morgan Stanley takes stake in SolMicroGrid in a nod toward Energy-as-a-Service model Daimler’s Mercedes-Benz triples its electric car sales as CEO predicts a ‘transformative’ decade IEEFA Indonesia: PLN has ‘Green Ambition’ but is short on renewable energy credibility 2021: The Decarbonization Race Is On From climate ambition to renewables realization – are you hopeful for a better 2021? Improving energy storage will be crucial to a smooth energy transition Major US pension fund plans fossil-free future EV Battery Packs ~50% Cheaper Than In 2016 A $7 trillion climate change warning to the stock market from its biggest shareholder World still warms in 2020 as greenhouse gases fall Human handiwork’s mass exceeds world lifeforms China and Australia face a climate tipping point Lunaz Electric Classic Range Rover Collection Includes 007’s Roofless Off-Roader Analysis: When might the world exceed 1.5C and 2C of global warming? Proposed steep tariff cut risks disruption in Vietnam’s wind market, industry body warns Is South Korea on the right path to carbon neutrality? Rising ocean heat leaves fish gasping for oxygen World Bank helps developing countries’ wind spurt Project on biomass gasification technology launched Green hydrogen, Holy Grail for long-term energy storage, getting supermajors’ attention Ford unveils new electric van for its profitable commercial business Greek island ditches fossil fuel cars to go green Toshiba to produce ‘state of the art’ wind turbine Climate Is Driving Voting More Than You Might Think, Especially For Women Researchers develop new method to turn used cooking oil into biodiesel Africa’s resistance grows as climate crisis worsens Asia’s aspiring ‘green-collar’ workers hope for jobs in Covid recovery

GE, LG Chem to build 2.3B battery plant in Ohio

By David Welch, Bloomberg

General Motors Co. and its battery partner, South Korea’s LG Chem Ltd., said they will jointly invest $2.3 billion in a new electric-vehicle battery plant to be built in Lordstown, Ohio, the same city where the automaker controversially idled and then sold a 53-year-old compact-car factory.

The two companies plan to hire 1,100 workers, about the same number that were laid off when the Lordstown assembly plant that used to make the Chevrolet Cruze compact was idled in March. GM then sold the assembly plant to an electric pickup-truck startup called Lordstown Motors Corp.

GM said that the new plant will lower battery costs as the automaker prepares to launch a global family of electric cars, SUVs and pickups in the next couple of years. The factory will make battery cells for GM’s next-generation electric vehicles, including the truck it plans to build in Detroit starting in 2021.

“With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions,” GM Chief Executive Officer Mary Barra said in a statement. “Combining our manufacturing expertise with LG Chem’s leading battery-cell technology will help accelerate our pursuit of an all-electric future.”

For workers idled in Lordstown, the joint-venture plant is a mixed blessing. The company will make jobs available to those workers, but pay significantly less than the $32 an hour top wage that GM Assembly workers receive.

The United Auto Workers would have to organize the plant like any new facility, Barra said. It is not part of GM’s master agreement with the union, which would make it a union plant governed by the national contract.

“That’s up to the members, the workforce, because it’s a new facility,” Barra said.

When Lordstown assembly stopped production in March, 1,200 workers were laid off. Many were transferred to other plants but some workers decided to leave GM and stay in their hometown.

Lordstown Motors plans to build its Endurance pickup in the idle assembly plant, but the company is still raising money from investors to get the project moving.

The battery plant will be a massive venture. GM and LG Chem said that the plant will have annual capacity to make 30 gigawatt hours of battery cells, compared to 20 gigawatt hours at Tesla Inc.’s Gigafactory in Nevada.

GM and LG Chem have a long history together. The South Korean company supplies battery technology for the Chevrolet Bolt EV already. In a filing at home Thursday, LG Chem said it would invest about $900 million in its U.S. unit for the joint effort.

Barra said GM is on a journey to get costs below $100 per kilowatt hour, to get electric vehicle costs close to that of gasoline powered cars. She also said that GM’s next-generation of EVs will be desirable, profitable and affordable.

“Our intent is to grow and lead in electric vehicles,” Barra said.

 

Source

Leave a Reply

Your email address will not be published. Required fields are marked *