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Joho Capital boosted its stake in LTHM by 32% during the third quarter. DOE closes $2.5B loan for Ultium Cells battery production. Access your favorite topics in a personalized feed while you're on the go. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. U.S. Department of Energy invested in Ultium Cells's Loan funding round. Sociedad Quimica Y Minera de Chile is a supplier of plant nutrients, lithium, iodine, and industrial chemicals. The companys goal is to have electric vehicles at all price points for work, adventure, performance and family use. We continue to flex manufacturing capacity to match demand, minimizing manufacturing inefficiency while benefiting from raw material cost reductions. Tesla, which has a powerful battery that is charged by only electricity. The new expansion will help fuel GM 's aggressive EV strategy as it. 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. The smartphone market has a high potential growth rate mainly in the, In order to produce our list of the top lithium and battery stocks, we first identified all lithium and battery stocks that are traded in a major U.S. exchange. Which is set to be the largest lithium deposit in the US, with an expected mine life of 46 years). The next-generation vehicles are expected to offer up to 600 miles of range on a single charge, according to the automaker. December 12, 2022. Ultium Charge 360 is also available to our fleet and BrightDrop customers and offers fleet and facility management tools, integration with GM's fleet . 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. 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. 2 Colors. Here is what EnerSys' CEO said in their press conference: "We exited our 2nd quarter with a renewed sense of optimism as our incoming order rate approached pre-pandemic levels. General Motors (ticker: GM) stock jumped, a little, in response to the news. 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. 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. EnerSys is one of the stored energy solutions for industrial applications. The Ultium battery cell is a flat, rectangular pouch that was designed by GM and is being produced through a joint venture with LG Chem. We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. 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. Once operational, the facility will supply battery cells to GM's Spring Hill assembly plant. Automakers aiming to compete in the growing electric-car market want to secure a steady supply of batteries. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE, Nissan and Mexican workers agree to 9% raise at Morelos plant, union says, Volkswagen's Scout to build $2 bln plant in South Carolina, Honda CEO touts EVs, but combustion engines could last until 2040, Samsung SDI to build battery plant with GM -Yonhap, Big Oil to take centerstage at Houston meet as markets, alliances shift. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. In other words, Tesla cars use lithium batteries in order to power up their supercars which is why unlike other cars that require gasoline, Tesla requires no traditional fuel filters, spark plug replacements, or even emission checks. By continuing to use this site you are consenting to these choices. Ultium Cells. 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. 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. GM also previewed several unnamed EVs in the background as part of the presentation, including at least one Chevrolet crossover, two Cadillacs and two Buicks. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. The Ultium platform that will be used in a broad range of EVs across its Cadillac, Buick, Chevrolet and GMC brands, as well as the Cruise Origin autonomous shuttle that was revealed in January. For the fiscal fourth quarter that ended December 31, 2022, GM's revenue increased 28.4% year-over-year to $43.11 billion. It can hold one passenger and travel roughly 56 mph between rooftops and other urban destinations, according to the company. GM used the event to flex its size and scale more than ever before. Starting at $6.50. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. 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. Ultium Platform driving GM's commitment to an all-electric future; LANSING, Mich. - 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. This also supports GM's plans to install capacity to produce more than one million EVs annually in North America and make its global products and operations carbon neutral by 2040. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. At CES, which is being streamed online this year, GM released new details of upcoming EVs, specifically for its luxury Cadillac brand. View all funding This profile has not been claimed. Although the recent pandemic impacted its revenue, the company remained optimistic with a strong cash flow as it exited the second quarter. To create the specific rankings that will help you choose what to buy for the best lithium and battery stocks, we used hedge fund sentiment to measure the potential upside of these investment ideas and to predict the movement in the market. To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. It was developed to easily move goods over short distances for example, from the delivery vehicle to the customer's front door. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. On January 31, Lithium Americas Corp. (LAC) and GM announced that they would jointly invest in developing the Thacker Pass mine in Nevada, with GM investing $650 million in LAC.It is the most significant investment by an automaker to produce battery raw materials. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. General Motors plans to launch a new all-electric van called the EV600 by the end of this year. Both factories will supply the automaker with the cells needed for . Got a confidential news tip? You're more than your latest funding, tell our customers your company's story. Early conceptual rendering of Ultium Cells LLC battery cell manufacturing facility in Lansing, Michigan. 5,970 followers. The facility will be located in Spring Hill, Tennessee. The global revenues in 2025, for the lithium-ion market, is expected to exceed US$70 billion. Galaxy Resources (OTCMKTS: GALXF) American Battery Metals (OTCMKTS: ABML) Pilbara (OTCMKTS: PILBF) However, reducing our dependence on oil and ramping up an EV infrastructure would allow more . Printer Friendly View Address: 7400 Tod Ave SW Warren, OH, 44481 . 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. How do we do this? GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. PR Newswire NASHVILLE, Tenn., April 16, 2021 NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ -- 2.8 mi. as well as other partner offers and accept our. Ultium Cells started construction on a battery cell plant near Spring Hill to take over providing the batteries for the Lyriq when it starts running later next year. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. we used hedge fund sentiment to measure the potential upside of these investment ideas and to predict the movement in the market. We continue to believe the stock is trading at a significant discount to our estimate of intrinsic value and that the new management team has an attractive opportunity to grow that intristic value over time through continue operational improvements and shrewd capital allocation. 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. networks and charge station health into Ultium Charge 360, a holistic charging approach that integrates charging networks, GM vehicle mobile apps and other products and services to simplify the overall charging experience for GM EV owners. Coming in second is Harris Associates with more than US$237 Million. At this point this company is perceived to be a speculative investment and there were only 3 hedge funds with equity positions in it. "Ultium" is the name that GM revealed earlier this year when the car company announced its battery technology. Gallagher added, We appreciate the support the state of Tennessee, Maury County and Spring Hill has shown Ultium Cells, and that support is playing an important role in making this expansion investment possible in our Spring Hill facility.. With that information, here are seven lithium and battery Stocks that could energize portfolios: Albemarle (NYSE: ALB) Amplify Lithium & Battery Technology ETF (NYSEARCA: BATT) Global X Lithium &. The Ultium pouches can be stacked vertically or horizontally. Climate Change Crisis Real Impact I Acquisition Corp shares were up 8% to $13.70. Additional career opportunities can be found on the Ultium Cells website. View the latest ALU stock quote and chart on MSN Money. 2 Colors. And here's what. 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. 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. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. By clicking Sign up, you agree to receive marketing emails from Insider The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. internet opportunity. For the twelve months ending September, revenue was US$22.317B, a 6.8% decline year on year. They recently announced a grant by the United States Department of Energy under the American Recovery and Reinvestment Act (ARRA) to build domestic manufacturing capacity for advanced batteries for hybrid and electric vehicles. 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. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General . General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. "Electricity is the future of transportation, powered by battery cells. Driehaus Capital, SailingStone Capital, and billionaire Howard Marks' Oaktree are among SQM's top 5 holders in our database. It's part of GM's $27 billion investment in electric and autonomous vehicles through then. All Rights Reserved. Electric Vehicle Charging on-site! Today 8:22 EST. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." The stock's top hedge fund holder is Ken Griffin's Citadel Investment Group which had more than US$241 million invested in the stock at the end of September. Ultium batteries are unique in the industry because the large-format, pouch-style cells can be stacked vertically or horizontally inside the battery pack. For example, since March 2017, our monthly newsletter's portfolio of stock picks has beaten the market by more than 66 percentage points (see the details here). Ditch the brown bag and enjoy lunch in the charging station. 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. 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. 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. 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. With this growing demand, the lithium-ion battery industry is projected to hit 87.54 billion USD in 2027 at 13% CAGR. The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. Shares were up about 0.6% in early trading, while the . 2023 Canjex Publishing Ltd. All rights reserved. This acts as gasoline for the car to run for a certain period of time. LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. Since it is profitable, hedge funds aren't cautious about betting this South American company. Ultium Cells plans to use this technology in coordination with GM's work to eliminate 100% of tailpipe emissions from its new U.S. light-duty vehicles by 2035. 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 was founded as part of GM's long-term strategy to produce a complete range of zero-emissions, all-electric cars and trucks by 2035. The new battery cell plant will create 1,300 new jobs. The partners are Blink Charging (NASDAQ:BLNK), ChargePoint Holdings (NYSE:CHPT), EV Connect, FLO, Greenlots, SemaConnect and EVgo, which is going public through a SPAC merger with Climate Change Crisis Real Impact I Acquisition Corp (NYSE:CLII). Price Action: Shares of General Motors closed down 1% to $58.55. Ultium Cells will build the new plant on land leased from GM. Ultium is the future of GM and WBMS will be standard in every one of its vehicles that use this battery technology. ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. 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 LLC Announces Plans to Produce More Battery Cells Faster, Ultium Cells Job Applicant Privacy Statement. 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 van, called EV600, will be the second product. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. That number will have to increase perhaps as much as tenfold to meet Teslas goal alone, and this doesnt even take into account other vehicle makers and lithium battery requirements. The company established its first research facility in the U.S. in the early 2000s. Although the lithium and battery industry has weakened during the Covid-19 pandemic brought about by the lower demand in electronic vehicles and consumer decisions of purchasing portable consumer devices, according to a GlobalData survey, the global lithium demand is expected to bounce back from the trauma of the pandemic at an estimated 47,300 tonnes in 2020 to 117,400 tonnes in the year 2024. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. GM has announced plans to produce some 250 million Ultium cells a year by 2025 and, once fully online, the Lordstown facility should produce at least 30 gigawatt-hours of batteries annually . Starting today, job seekers can apply for positions on the Ultium Cells LLC website. 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. 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. EVgo and GM launched the first Ultium-ready fast chargers recently with a goal of 500 fast charging stalls live by the end of 2021. In 2010, the company built its first U.S battery plant in Holland, Michigan. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. To help its goal of launching 30 electric vehicles globally by the end of 2025, General Motors Company (NYSE:GM) launched a new charging infrastructure plan Wednesday. 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 General. You can read more about your. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. The General Motors . Each site will have an average of four chargers per site. Ultium Cells LLC - Company Profile and News - Bloomberg Markets Americas +1 212 318 2000 EMEA +44 20 7330 7500 Company Subscribe Live Now Markets Markets Deals Odd Lots The FIX | Fixed Income. They are also used in electric vehicles ranging from full-sized vehicles such as radio-controlled toy vehicles. Ultium Cells has 1 investors. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. A Division of NBCUniversal. "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. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Lithium Americas Corporation ended the 3Q with cash and cash equivalents of roughly US$72 million, including an US$18 million drawn from its credit facilities to fund its Cauchari-Olaroz lithium brine project that is found in Argentina. 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. A joint venture between General Motors ( NYSE: GM) and South Korean tech firm LG Energy, Ultium Cells, is facing a union vote this week. Ultium Cells will build the new plant on land leased from GM. Ultium is an electric vehicle battery and motor architecture developed by General Motors. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. The new factory is a $2.3-billion plant being built in Ohio, near a factory that was. Tags Storage Ultium Cells News. GM estimates the combined market opportunity for parcel, food delivery and reverse logistics in the U.S. will be more than $850 billion by 2025. Li-Cycle intends to apply to list the common shares of the combined company on the New York Stock Exchange under the new ticker symbol, "LICY." . A Japanese conglomerate and battery supplier to Tesla. 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. "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. It is planned to be deployed for battery electric vehicles from General Motors portfolio brands along with vehicles from Honda and Acura.. Ultium is characterized by a modular layout, using an Ultium battery to supply power to one or two Ultium Drive unit(s) using a common set of power electronics . Ultium is so unique that it can contain either vertically- or horizontally-stacked cells to integrate into vehicle design - vertically for trucks, SUVs and crossovers, or horizontally for cars and performance vehicles. The facility will be located in Spring Hill, Tennessee. General Motors : Ultium Platform could be a game-changer for the firm. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Some of the major manufacturers of lithium batteries include CATL, LGChem, BYD, and Samsung. 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. Top 11 Lithium and Battery Stocks to Buy Now is originally published at Insider Monkey. In 2010, the company built its first U.S battery plant in Holland, Michigan. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. The cells go into modules that then jointly power the. 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. The Cadillac model resembled the Origin, a shared autonomous shuttle unveiled last year by Cruise, GM's majority-owned self-driving vehicle subsidiary. The lithium carbonate from Thacker Pass is expected to be used in GM's Ultium battery cells. Their goal is to become a strategic domestic supplier of battery-grade lithium hydroxide and other chemicals to the growing electric vehicle and battery storage markets. Ultium Cells LLC. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, has announced that it will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. Jonas has an $80 price target on GM,. At this point this company is perceived to be a speculative investment and there were only 3 hedge funds with equity positions in it. General Motors CEO on the company's electric vehicle future. Ultium Cells' battery cell manufacturing mega-factory in Spring Hill, Tennessee, will be similar in size and create more than 1,300 new jobs.