GM and LG Chem plan battery factory

General Motors (GM) and LG Chem plan a US$2.3 billion EV battery factory in the US.

A start on construction near GM’s closed Lordstown assembly plant in Ohio is expected mid-2020, although GM has not yet said when the factory will open.

GM and LG already had a Michigan plant that built batteries for the discontinued Volt.

GM chief executive officer Mary Barra sees the new factory as critical to it developing an all-electric future, the company aiming for 20 all-electric models for sale by 2023.

If EV sales are going to grow then the cost of producing the batteries needs to be kept in check, she says, CNN Business

reports.

GM recently announced a deal to sell the Lordstown plant to a start-up company, Lordstown Motors, which plans to build an electric ute.