Late last year, General Motors (“GM”) made an announcement that would propel it into the relatively young EV industry. Through a new, equally owned joint venture company called Ultium Cells LLC, GM and LG Chem planned to build a battery gigafactory in Ohio with an annual capacity of 30 GWh; the two firms were investing up to a total of $2.3 billion to build the factory. During the announcement, GM stated that the new gigafactory would create more than 1,100 new employment opportunities. Close to a year later, the automaker is making good on that statement and has started hiring.
GM has made considerable progress constructing the factory: it broke ground in May and, in July, started deploying the first steel structures. On Nov. 5, the firm announced that it had started hiring staff to work at the battery factory. Ultium Cells LLC, the joint venture, is seeking individuals to help establish and launch the manufacturing of battery cells. Qualified and interested parties can apply on the company’s website.
According to Ultium Cells’ plant director Thomas Gallagher, the firm is thrilled to share its vision of a fully electric future as it begins adding members to its extremely technical battery cell production team. As the country and the world at large pushes towards clean, renewable sources of energy, Gallagher says that the gigafactory will pioneer a new phase of manufacturing as well as sustainability.
The term “gigafactory” was first used to refer to Tesla’s Gigafactory 1 in Nevada, which came out of a partnership with the EV maker and Panasonic. Tesla owns the factory and leases space to Panasonic, which builds battery cells and sells them back to Tesla. The EV maker then installs the battery cells in its own battery packs.
On the other hand, GM’s partnership with LG Chem is a little different: the gigafactory is under a joint venture, unlike Tesla which owns the entire factory and leases space to Panasonic. However, both GM and LG Chem are involved in the production of battery cells.
Like several other automakers, GM is looking to wade into the electric vehicle market in the coming years. The batteries built by Ultium Cells are going to power General Motors’ new line of electric cars, beginning with the GMC Hummer EV and the Cadillac Lyriq. According to a timeline confirmed by General Motors, the batteries will also be used to power an all-electric truck slated to debut next fall.
One EV sector player that you should pay attention to is ev Transportation Services Inc. This provider of fleet-management solutions also designs, develops and even manufactures lightweight commercial vehicles.
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)
For more information, please visit https://www.greencarstocks.com
Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.greencarstocks.com/Disclaimer
Green Car Stocks
Los Angeles, CA
www.greencarstocks.com
415.949.5050 Office
[email protected]
Green Car Stocks is part of the InvestorBrandNetwork.
