The General. Shares of General Motors Company (NYSE: GM) have rallied on speculation of the company spinning off its electric vehicle business.. The Ultium GM Unveils Battery Twice as Big as Tesla's The building block for this plan is a large, pouch-type lithium-ion cell, roughly 23 by 4 by 0.4 inches. D&B Business Directory HOME / BUSINESS . These types of batteries are also referred to as lithium-metal batteries. General Motors has committed over $27 billion to electric vehicle and autonomous vehicle efforts through 2025. This allows engineers to optimize battery energy storage and layout for each vehicle design. U.S. Energy Department set to loan GM battery joint venture $2.5 bln Built at a cost of $2.6 billion, the 2.8 million-square-foot facility in Michigan is expected to create 1,700 new manufacturing jobs. Galaxy Resources (OTCMKTS: GALXF) American Battery Metals (OTCMKTS: ABML) Pilbara (OTCMKTS: PILBF) However, reducing our dependence on oil and ramping up an EV infrastructure would allow more . Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. our sites and services. The increase in the demand is a result mostly of the projected electric vehicle boom of the world, experts are now projecting electric cars going from 2% market share in the year 2018 to around 25-35% by the year 2030. To help its goal of launching 30 electric vehicles globally by the end of 2025, General Motors Company (NYSE:GM) launched a new charging infrastructure plan Wednesday. GM joint venture Ultium plant in Ohio begins battery cell production Production is slated for August of 2022. Our in-house research has shown that we can identify a small group of stocks that can outperform the S&P 500 Index on average by double digits annually using hedge fund sentiment data. GM announced that factory. The cells go into modules that then jointly power the. Get this delivered to your inbox, and more info about our products and services. The Only 7 Battery Stocks That Matter | InvestorPlace Our in-house research has shown that we can identify a small group of stocks that can outperform the S&P 500 Index on average by double digits annually using hedge fund sentiment data. GM showed how it's integrating new businesses and why it refused to spin off its EV business last year amid pressure from Wall Street. GM, LG Energy Mull Second Battery Cell Plant In US; Street Is Bullish Ultium Cells is committed to using the most technologically advanced methods in the industry to produce the very best of those battery cells, now and for generations to come. Ultium Cells LLC is a joint venture with LG Chem that will mass-produce Ultium battery cells for electric vehicles and create more than 1,100 new jobs in Northeast Ohio. GMis collaborating with seven charging network companies with over 60,000 charging plugs available to its customers. Lithium Americas Corporation is focused on developing the Thacker Pass project (Which is set to be the largest lithium deposit in the US, with an expected mine life of 46 years). GM's stock closed up 1.9% at $48.73 a share, setting a new closing record after hitting an intraday high of $50.97 earlier Wednesday. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Lithium Americas Corporation ended the 3Q with cash and cash equivalents of roughly US$72 million, including an US$18 million drawn from its credit facilities to fund its Cauchari-Olaroz lithium brine project that is found in Argentina. Tickers AAPL ABT DXCM. For more information about Ultium Cells, please visit https://www.ultiumcell.com. New Electric Vehicle Battery Technology | General Motors 1 High-Flying Growth Stock With 19% Upside, According to Wall Street. Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. The lithium-ion battery has become the most sought-after battery for electric vehicles because of its lighter weight, smaller size, and longer life capacity than the other batteries that are available in the market. Ultium is so unique that it can contain either vertically- or horizontally-stacked cells to integrate into vehicle design - vertically for trucks, SUVs and crossovers, or horizontally for cars and performance vehicles. Ditch the brown bag and enjoy lunch in the charging station. How GM's Ultium Battery Will Help It Commit to an Electric Future Battery cells represent a significant step away from fossil fuels and offer the potential to revolutionize passenger transportation in the form of electric and autonomous vehicles. We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages. The first 500 vans will go to FedEx beginning later this year. The company also had US$184 million in undrawn credit. Climate Change Crisis Real Impact I Acquisition Corp shares were up 8% to $13.70. "Importantly, I truly believe this coming together transcends a partnership as it marks adefining moment that will reduce emissions and help to accelerate the adoption of EVs.". Advanced Technology Vehicles Manufacturing, U.S. Department of Energy Announces $2.5 Billion Loan to Ultium Cells for Three Domestic Battery Cell Manufacturing Facilities, LPO Offers Conditional Commitment for Loan to Build New EV Battery Cell Manufacturing Facilities in Ohio, Tennessee, Michigan, Lordstown, OH; Spring Hill, TN; Lansing, MI. Ultium Cells LLC Announces Plans to Pr | Ultium Cells LLC View original content:http://www.prnewswire.com/news-releases/gm-and-lg-energy-solution-investing-2-3-billion-in-2nd-ultium-cells-manufacturing-plant-in-us-301270646.html. Valucap Adult Classic Dad's Cap. Total Raised $2.5B Investors Count 1 Funding, Valuation & Revenue 1 Fundings Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Port Authority Flexfit Delta Cap. They are also used in electric vehicles ranging from full-sized vehicles such as radio-controlled toy vehicles. "That equal and individual experience for each occupant will be a signature aspect of the Cadillac Celestiq," said Crystal Windham, Cadillac director of interior design. Charging Stocks Jump On GM's Ultium Charge 360 Launch Benzinga Apr. Valucap Adult Classic Dad's Cap. Today 8:22 EST. Ultium Cells' battery cell manufacturing mega-factory in Spring Hill, Tennessee, will be similar in size and create more than 1,300 new jobs. For example, since March 2017, our monthly newsletter's portfolio of stock picks has beaten the market by more than 66 percentage points (see the details here). Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. With a 30-year history in the battery business, LG Energy Solution has made consistent, large-scale investments to accumulate enough stability, credibility and manufacturing experience to invent its own cutting-edge technologies. Did you know we are landfill free? The new venture which . Ultium Cells | US Safety Gear - Itemorder With shares up 25% so far this year, the average analyst price target of $63.67 suggests additional 23% upside potential lies ahead over the coming year. COVID-19 adversely impacted our revenue in Q2, but lower costs including commodities led to another quarter of strong cash flow. Let's Not Lie: GM's New Ultium Battery Isn't Better Than Tesla's It's part of GM's $27 billion investment in electric and autonomous vehicles through then. Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. General Motors : Ultium Cells LLC Seeking 1,100 Team - MarketScreener Ultium Cells expects to have more than 130 GWh of battery cell capacity when all three facilities are at full production capacity later this decade a key enabler to GM's commitment to lead the industry in EVs. SPRING HILL, Tenn. Ultium Cells LLC, the battery cell manufacturing joint venture of LG Energy Solution and General Motors, today announced the company is investing an additional $275 million in the Ultium Cells Spring Hill plant to expand the facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. Related News: They can be arranged in different combinations of flexible modules and battery packs to provide the energy for every segment on the road today, from performance vehicles to work trucks. Copyright 2023 CB Information Services, Inc. All rights reserved. The company has just been recently awarded the 2020 Gold Status for sustainability performance by the Global CSR rating agency, EcoVadis. The partnership between the two companies includes plans for 2,700 fast chargers by the year 2025. SPRING HILL, Tenn. - Ultium Cells LLC, the battery cell manufacturing joint venture of LG Energy Solution and General Motors, today announced the company is investing an additional $275 million in the Ultium Cells Spring Hill plant to expand the facility's battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the The global revenues in 2025, for the lithium-ion market, is expected to exceed US$70 billion. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells The next-generation vehicles are expected to offer up to 600 miles of range on a single charge, according to the automaker. internet opportunity. 2023 Canjex Publishing Ltd. All rights reserved. The two main exchanges in the U.S. that we included on our list are NASDAQ and NYSE. General Motors (GM) Ultium Cells Workers Vote to Join UAW The stock's top hedge fund holder is Ken Griffin's Citadel Investment Group which had more than US$241 million invested in the stock at the end of September. On January 31, Lithium Americas Corp. (LAC) and GM announced that they would jointly invest in developing the Thacker Pass mine in Nevada, with GM investing $650 million in LAC.It is the most significant investment by an automaker to produce battery raw materials. The fund's top hedge fund holder was Robert Karr's Joho Capital which had more than $26 million invested in the stock at the end of September. "There is a lot more to come in terms of rolling out independent business units with its own management teams, technological domains and go-to-market strategies.". Official: GM And LG Energy To Build 2nd Ultium Battery Cell Plant Morgan Stanley analyst Adam Jonas notes that GM's EV business plus the stake in its battery joint venture with LG, called Ultium Cells LLC, could propel the stock higher. Top 11 Lithium and Battery Stocks to Buy Now - Yahoo! Based on our 30 years of R&D experience, we deliver the most advanced batteries that have been infused with cutting-edge technologies to EVs, Energy Storage Systems (ESS) and Mobility & IT applications across the world. This acts as gasoline for the car to run for a certain period of time. Keychain Flashlight. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system. Li-Cycle - Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle 10 Lithium Stocks to Buy Despite the Market's Irrationality The new expansion will help fuel GM 's aggressive EV strategy as it. DOE closes $2.5B loan for Ultium Cells battery production. GM previewed an electric air taxi concept, formally known as an electric vertical take-off and landing, or eVTOL, aircraft, for its Cadillac brand. In 2010, the company built its first U.S battery plant in Holland, Michigan. The companys revenue for trailing twelve months was $1.8 billion. It can hold one passenger and travel roughly 56 mph between rooftops and other urban destinations, according to the company. Ultium Cells has 1 investors. GM, LG Energy Solution considering Indiana for fourth U.S. battery Ultium Platform driving GM's commitment to an all-electric future; LANSING, Mich. - Ultium Cells, a joint venture of LG Energy Solution and General Motors, today announced a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. GM, LG Energy Mull Second Battery Cell Plant In US; Street Is - Nasdaq "It's about time. This also supports GM's plans to install capacity to produce more than one million EVs annually in North America and make its global products and operations carbon neutral by 2040. Microvast ( NASDAQ:MVST ) $547.4 . Stockwatch The company also reported earnings per share at $0.01 for the third quarter. ChargePoint Holdings shares were up 5% to $26.33. Driehaus Capital, SailingStone Capital, and billionaire Howard Marks' Oaktree are among SQM's top 5 holders in our database. GM - Free Report) and LG Energy Solution joint venture, Ultium Cells LLC, in Ohio, are voting to decide whether they are willing . LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. On the other hand, there is also a steady increase in the demand for smartphones with unstoppable development in the phone industry. Currently, the world mines roughly 400,000 tons of lithium in a year, this is enough to power over around 2 million to 3 million electric vehicles, though only a third of that number goes to EVs right now. The companys goal is to have electric vehicles at all price points for work, adventure, performance and family use. Which is set to be the largest lithium deposit in the US, with an expected mine life of 46 years). Both are built on GM's Ultium platform. Find company research, competitor information, contact details & financial data for Ultium Cells LLC of Warren, OH. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com. GM also previewed several unnamed EVs in the background as part of the presentation, including at least one Chevrolet crossover, two Cadillacs and two Buicks. Gallagher added, We appreciate the support the state of Tennessee, Maury County and Spring Hill has shown Ultium Cells, and that support is playing an important role in making this expansion investment possible in our Spring Hill facility.. It is the worlds largest producer of lithium. The Ultium platform that will be used in a broad range of EVs across its Cadillac, Buick, Chevrolet and GMC brands, as well as the Cruise Origin autonomous shuttle that was revealed in January. It's been just over five months since General Motors GM +0.2% and LG Chem announced the formation of a new joint-venture to produce lithium ion cells for electric vehicles. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. They differ from other batteries with their high charge density (long life) and high cost per cell unit. The company reported during their September 2020 quarterly report a signed binding agreement with Tesla, Inc. for the supply of Spodumene concentrate from Piedmont's North Carolina deposit to Tesla. The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox. Added to this demand will be portable consumer devices, other non-car electric vehicles such as the modern-day e-bikes, e-3 wheelers, e-trucks, e-buses, etc, and as well as other energy storage. GM is investing billions in autonomous vehicles, but they largely took a back seat to EVs for the automaker at this year's CES. It showed how it's integrating new businesses and why it refused to spin off its EV business last year amid pressure from Wall Street. Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the United . For the fiscal fourth quarter that ended December 31, 2022, GM's revenue increased 28.4% year-over-year to $43.11 billion. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Access your favorite topics in a personalized feed while you're on the go.