GM has announced a new joint venture with POSCO Chemical, a global advanced materials company focused on advanced battery technologies for mobility applications. The new joint venture will result in a new North American factory that will process materials for the GM’s Ultium-powered all-electric vehicles, processing Cathode Active Material, or CAM, a critical battery component that’s said to make up roughly 40 percent of the cost of a battery cell.
The new North American facility will open in the 2024 calendar year and create hundreds of new jobs. The location of the new factory will be announced at a later date.
This latest joint venture will help to scale battery production for GM’s range of all-electric vehicles, supporting the automaker’s new Ultium Cells LLC facilities currently under construction in Lordstown, Ohio, and Spring Hill, Tennessee. The automaker plans to build two additional Ultium cell facilities by mid-decade.
GM executive vice president, Global Product Development, Doug Parks, commented on the new joint venture, saying that it will help to drive General Motors towards battery cell innovation and rapidly bring EV production to scale.
“We are building a sustainable and resilient North America-focused supply chain for EVs covering the entire ecosystem from raw materials to battery cell manufacturing and recycling,” Parks said.
GM previously announced that it would launch 30 new EV models globally by the 2025 calendar year, two-thirds of which will be available in North America. By the end of 2025, it’s expected that roughly 40 percent of GM’s U.S. portfolio will consist of all-electric vehicles, including small to medium-sized crossovers, pickup trucks, and SUVs.
GM says it’s committed to achieving the number-one electric vehicle market share in North America, a position currently held by Tesla. GM CEO Mary Barra previously stated that General Motors could catch up to Tesla in terms of U.S. electric vehicle sales by the 2025 calendar year.
GM has earmarked roughly $35 billion for new electric and autonomous vehicle investments through mid-decade. Some of the upcoming GM EV products include the new Cadillac Lyriq, GMC Hummer EV, and Chevy Silverado EV.
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Comments
I think this is great news, GM is working on their supply chain for batteries, this will be important as BEV sales ramp up…
Media is reporting that solid state batteries will be in cars by 2025, but if they were, then this factory would be obsolete in just 4 years. I’m not entirely sure on the processes or how GM would plan a retool on something this substantial.
Solid state is further away than 2025 for production cars, and the manufacturing process equipment can be changed over when Solid State does come.
Yeah, just spitballing here, but my guess is it’ll be closer to 2028 before we see ss batteries in any meaningful numbers.
Yes, by 2024 you will probably see lab sample and test manufacturing lines for Solid State Batteries, then they will build up supply and larger test batteries. Yeah 2028 seems more like the time you will see them in production cars.
This is a big deal as vertical integration of battery supplies are going to be a big advantage.
Those companies in control of their battery supplies will hold a great advantage in price and in getting the most advanced first.
Not all mfgs will hold this advantage due to the cost of converting to electric and investing in the batteries at the same time. Also the longer this goes on the fewer battery partners will be open to new partners.
Solid state will come in time and not to all models at once. It will show up later in high end models and will migrate down as cost come down. Like most electronics prices will come down fairly quickly.
Some models will option what motors you get and Batteries could also play as an option.
If someone just drives city they could opt for smaller cheaper batteries. Other needing more range may go with more advanced packs. There may be many things we just never considered in play.