Thurs. 7:30 a.m.: GM-LG Chem partnership in Lordstown to come to fruition, national media reporting
WARREN — This morning’s planned announcement by General Motors CEO Mary Barra is expected to include details of the auto giant’s joint venture to build batteries for electric vehicles at a new factory in Lordstown, according to national media reports.
South Korea’s LG Chem said early today it would invest $916 million in its U.S. subsidiary by 2023 to set up the joint venture with GM, according to a Reuters report.
The report did not list details, but GM has scheduled a news conference with CEO Mary Barra for 9 a.m. in Warren, Michigan. The Vindicator will participate via telephone conference.
The announcement comes on the heels of GM’s 2019 United Auto Workers contract ratification that finalized the closure of GM’s Lordstown auto plant. The facility was sold last month to Lordstown Motors Corp., which plans to use the facility to build electric pickup trucks.
During those labor contract talks, GM had said it would bring battery cell production to Mahoning Valley, creating 1,000 jobs.
The Vindicator previously reported that GM is in talks with electric battery pack and cell maker LG Chem to locate a battery-cell production facility in the Mahoning Valley. LG already has a plant in Holland, Mich., where it makes battery cells and packs for GM.
For more on this developing story, log on to www.vindy.com throughout the day today.