close
close

GM Venture Begins Production of Battery Cells at New Ohio Plant

General Motors’ new electric vehicle battery plant in Ohio has begun producing cells that help customers receive federal tax credits.

The plant in Warren, Ohio is part of a joint venture with LG Energy Solution.

The joint venture factory focuses on training to prepare for the ramp-up of production. A spokeswoman for the venture said it is producing cells but has not yet shipped them.

They are currently installed in vehicles powered by GM’s Altium batteries, including the Hummer EV, Chevrolet Silverado EV pickup and Cadillac Lyric electric SUV.

GM and LG energy solutions look to Indiana for battery factories

Hummer pickup and EV

The GMC HUMMER EV SUV completes the HUMMER EV family, featuring a tight-proportioned and highly maneuverable body with a 126.7-inch wheelbase, offering excellent on- and off-road capabilities. (GMC / Fox News)

Ultimately, though, the plant should help GM meet the requirements for EVs to receive the $7,500 per vehicle federal tax credit.

President Biden It recently signed a law imposing new sourcing rules on battery components and critical minerals, effective January 1, for electric vehicles to qualify for tax credits.

Under the Inflation Reduction Act, electric vehicles and their batteries must be manufactured in North America to qualify for credit.

GM headquarters in Detroit

The new GM logo can be seen on the facade of General Motors headquarters in Detroit, Michigan. (REUTERS/Rebecca Cook / Reuters Photos)

Toyota to invest $5.6 billion in EV battery production in US and Japan

Battery minerals must also be mined or recycled on the continent. If you don’t, you’ll lose half your tax credit. Another hurdle is the inability to use Chinese-made parts in the battery.

This requirement is designed to build a North American supply chain for EVs, so the country is not dependent on China or other foreign countries.

cadillac lyric

Featuring tight lines and clean surfaces, the LYRIQ is aggressive and modern, with a low, fast roofline and wide stance that emphasizes agility and conveys confidence. (Cadillac/Fox News)

The $2.3 billion, 2.8 million square foot battery plant currently employs 800 people and will eventually grow to 1,300.

ticker safety last Change change %
GM General Motors Corporation 38.20 -0.95 -2.43%

The companies are considering building a battery cell manufacturing plant in Indiana.

This will be the fourth battery project developed by Ultium Cells LLC, a joint venture between the two companies.

CLICK HERE FOR MORE INFORMATION ON FOX BUSINESS

The rest are in Michigan and Tennessee.

The Associated Press contributed to this report.

Leave a Comment