GM: to set up EV battery joint venture with LG Chem

(CercleFinance.com) - No.
1 US carmaker GM and South Korean battery maker LG Chem are launching a joint venture to produce lower cost battery cells for electric vehicles, the companies said on Thursday.

The joint venture will establish a battery cell assembly plant on a greenfield manufacturing site in Ohio that is set to create more than 1,100 new jobs, they said.

Together, the companies plan to invest up to 2.3 billion dollars in the project.

Groundbreaking is expected to be created in mid-2020.

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