GM, LG Energy Mull Second Battery Cell Plant In US; Street Is - Nasdaq 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. Neha Gupta for Overall, Wall Street analysts share Jonas bullish outlook on the stock. ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery 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. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. 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. The 2.8-million square foot Ultium Cells LLC plant is the first of at . Ultium has said that hourly workers currently make between $16 and $22 an hour with full benefits, incentives and tuition assistance. The General. 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. 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 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. We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. The closure became an issue when President Donald Trump got involved, and it remained an issue through the 2019 United Auto Workers strike against GM. Marvell Shareholders Approve Acquisition Of Inphi ETFs. Latest News about Ultium Cells. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. It will allow us to build solid and stable U.S-based supply chains that enable everything from research, product development and production to the procurement of raw components,"LG Energy Solution President and CEO Jonghyun Kim said. 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. Stock Market | Stock Quote - Fat Pitch Financials 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. Overview. 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. By: Li . "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. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Stock Quote Recent Quotes. Stay up to date with what you want to know. AON Board Increases Quarterly Dividend By 11% 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. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. 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. 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. Morgan Stanley Raises General Motors Target On Ultium Valuation - Yahoo Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Work for a company making a difference. Top 11 Lithium and Battery Stocks to Buy Now - Yahoo Finance The Company specializes in developing raw materials into pouch cells.. 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! TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Stockwatch 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 plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. 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. LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. These symbols will be available throughout the site during your session. Morgan Stanley Raises General Motors Target On Ultium Valuation Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Ultium Cells LLC is a joint venture with LG Chem that will mass-produce Ultium battery cells for electric vehicles and create more than 1,100 new jobs in Northeast Ohio. 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. All rights reserved. Latest news about Ultium Cells - Stock Market - CloudQuote Last Updated December 2022. The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. My Watchlist. 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. General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. 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. 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. In August this year, 85% of Ultium Cells workers signed. The new plant is likely to be a similar-size investment, the WSJ said. "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.". Valuation. 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. Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. International. Once complete, the plant will produce battery cells to be used in General Motors (GM) Spring Hill assembly plant. Ultium Cells LLC Company Profile | Warren, OH - Dun & Bradstreet He added, however, that there are several risks around the company generating credit for its battery capacity. Ultium Cells will build the new plant on land leased from GM. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. 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. Sign up for notifications from Insider! Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. 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. All rights reserved. SPRING HILL, Tenn. Ultium Cells today welcomed U.S. Treasury Secretary Janet Yellen to its battery cell manufacturing facility under construction in Spring Hill. The facility will be located in Lansing, Michigan. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. Deutsche Bank Adjusts General Motors Price Target to $35 From $37, Maintains Hold Ratin.. Chief Financial Officer & Executive Vice President, CTO, Vice President-Global Research & Development. 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. LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. 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. The proposed facility will leverage advanced cell manufacturing processes and adapt to technological advances in battery and electric vehicle production. Peridot Acquisition : Li-Cycle and Ultium Cells LLC Announce Agreement 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 LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. General Motors (GM) Ultium Cells Workers Vote to Join UAW - Yahoo Finance This new investment is in addition to the $2.3 billion investment announced in April 2021. From Green Power RSS Feed. 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. The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. 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. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. 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. 2022-12-2. Related News 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. 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; GM And LG To Invest $2.3B In Tennessee Manufacturing Plant Ditch the brown bag and enjoy lunch in the charging station. Type a symbol or company name. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. 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. Ultium - Wikipedia The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. GM and LG Chem's Ultium Cells partners with Li-Cycle to process The new battery cell plant will create 1,300 new jobs. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. Sources. GM and LG Chem Ohio Joint-Venture Called 'Ultium Cells LLC' General Motors : Ultium Cells LLC Seeking 1,100 Team Members to Help When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. . Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. (See GM stock analysis on TipRanks). The company established its first research facility in the U.S. in the early 2000s. Health Care Benefits start day one! 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 analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price..
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