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General Motors announced on Tuesday that battery production will begin in August at Ultium Cells LLC in Lordstown.
Ultium Lordstown
General Motors
General Motors announced on Tuesday that battery production will begin in August at Ultium Cells LLC in Lordstown, Ohio.
The information came as part of a letter to shareholders from GM CEO and Chair Mary Barra under a summary of “What’s to Come”.
Barra’s letter was published as GM reported second-quarter net income falling 40% from a year ago, which was largely blamed on computer chip and parts shortages which curtailed production and reduced sales by more than 15%.
The report came one day after the Department of Energy’s Loan Programs Office announced a conditional commitment to Ultium Cells for a $2.5 billion loan to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan.
The three facilities are expected to create 6,000 construction jobs and 5,100 operations jobs when they are at full capacity.
The conditional commitment is being offered through the Advanced Technology Vehicles Manufacturing program, which provides loans to support U.S. manufacturing of light-duty vehicles, qualifying components, and materials that improve fuel economy.
This would be LPO’s first loan exclusively for a battery cell manufacturing project under ATVM.
By manufacturing Li-ion battery cells for EV battery packs in the United States, Ultium Cells will supply GM as it plans to…
