Li-Cycle - Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle Copy and paste multiple symbols separated by spaces. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. The facility will supply battery cells to GMs Spring Hill assembly plant for production of the Cadillac LYRIQ and other GM Ultium Platform-based EVs. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. See General Motors stock analysis on TipRanks, Marvell Shareholders Approve Acquisition Of Inphi, AON Board Increases Quarterly Dividend By 11%, IBM Acquires myInvenio To Enhance Business Processes Automation, Do Not Sell My Personal Information (CA Residents Only). Ultium Cells is taking the appropriate steps to support GMs plan for more than 1 million units of EV capacity in North America by mid-decade., Ultium Cells will play a critical role in making GMs commitment to an all-electric future a reality, said Tim Herrick, GMs vice president of EV Launch Excellence. "The support of the state of Tennessee was an important factor in making this investment in Spring Hill possible and this type of support will be critical moving forward as we continue to take steps to transition our manufacturing footprint to support EV production. SPRING HILL, Tenn. Ultium Cells today welcomed U.S. Treasury Secretary Janet Yellen to its battery cell manufacturing facility under construction in Spring Hill. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. Buoyed by the move to construct the new battery cell plant, Morgan Stanleys analyst Adam Jonas reiterated a Buy rating on the stock. Did you know we are landfill free? WARREN, Ohio Ultium Cells today welcomed Ohio Governor Mike DeWine to its battery cell manufacturing facility in Ohio. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. Ultium - Wikipedia 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. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade.. General Motors' Traditional Franchise Can Still Spur Billions of Dollars in Cash Flow, .. GM cuts several hundred full-time contract workers, General Motors Co Says Small Number Of Contractors Have Departed Co - Spokesperson, General motors co says says impacted contractors were notified b, General motors co says small number of contractors have departed. 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. Commenting on the proposed battery facility, GMs Chairman and CEO Mary Barra stated, The support of the state of Tennessee was an important factor in making this investment in Spring Hill possible and this type of support will be critical moving forward as we continue to take steps to transition our manufacturing footprint to support EV production. The facility will be located in Spring Hill, Tennessee. GM ( GM) said that via the Ultium Cells LLC joint venture with LG Energy, the car marker is "exploring the feasibility of constructing a second state-of-the-art battery cell plant." A. Markets. According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. Marvell Shareholders Approve Acquisition Of Inphi LORDSTOWN, Ohio - GM continues to advance toward an all-electric, zero-emissions future with the construction of its nearly 3 million-square-foot Ultium Cells LLC battery cell manufacturing facility in Lordstown. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Create your Watchlist to save your favorite quotes on Nasdaq.com. Type a symbol or company name. Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS, supply its Hydrotec fuel cell power cubes, HUMMER EV SUV and the Chevrolet Silverado electric pickup truck, 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, GM's zero-emissions technology will extend to fuel cells as the company announced it will. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Ultium Cells Stock Price, Funding, Valuation, Revenue & Financial Morgan Stanley Raises General Motors Target On Ultium Valuation 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. Technology Innovation The addition of a second Ultium Cells battery cell manufacturing plant will mark an important milestone in GM's push for an electric future. GM And LG To Invest $2.3B In Tennessee Manufacturing Plant General Motors : Ultium Cells LLC Starts Ground Prep on New Electric GM's proprietary Ultium battery technology is at the heart of the company's strategy to compete for nearly every EV customer in the marketplace, whether they are looking for affordable transportation, luxury vehicles, work trucks, commercial trucks or high-performance machines. Work for a company making a difference. An average analyst price target of $68.15 implies 16.08% upside potential to current levels. Investors. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility install the final beam as part of a traditional topping out ceremony Wednesday, June 8, 2022 in Spring Hill, Tennessee. In August this year, 85% of Ultium Cells workers signed. "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.". According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of Li-Cycle - Li-Cycle and Ultium Cells LLC Announce Agreement on Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. "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.". U.S. Department of Energy LP 101000 Independence Avenue, SWWashington D.C. 20585, New Factories in Ohio, Tennessee, and Michigan Will Create More than 11,000 Good-Paying Jobs and Reduce the Nations Reliance on Other Countries to Meet Increased Demand for Electric Vehicle Technologies, Today the Department of Energys Loan Programs Office (LPO) announced a conditional commitment to Ultium Cells LLC for a $2.5 billion loan to help finance the construction of new lithium-ion (Li-ion) battery cell manufacturing facilities in OH, TN, MI. This new investment is in addition to the $2.3 billion investment announced in April 2021. Round. In 2019, GM announced the formation of Ultium Cells LLC. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. General Motors scores a strong 8 out of 10 on the TipRanks Smart Score ranking system, implying that it is well-positioned to outperform the overall market averages. WARREN, Ohio Yesterday, Ultium Cells hosted General Motors, OnStar and the Illinois Fire Service Institute (IFSI) to deliver hands-on training to prepare local community First and Second Responders to operate safely at incidents involving Battery Electric Vehicles. According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. dvelopper et amliorer nos produits et services. Additional $275 million investment and 400 more jobs for Spring Hill, Tennessee battery cell plant will increase battery cell production by more than 40 percent to 50 gigawatt-hours, Production at the 2.8 million-square-foot facility will begin in late 2023. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. 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. Ultium Cells LLC Announces Plans to Pr | Ultium Cells LLC ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. Take care of yourself and your family with great benefits. The proposed battery cell manufacturing plant should be up and running by late 2023 and will likely result in the creation of 1,300 new jobs. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. Once complete, the plant will produce battery cells to be used in General Motors (GM) Spring Hill assembly plant. LG Energy Solution will employ its decades-long experience in battery technology and manufacturing to produce quality products as we demonstrate our reputation as an industry leader delivering unparalleled consumer value.. 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. Recent news which mentions Ultium Cells. 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. The Strong Buy consensus rating shows 11 Buys versus 1 Hold. (See General Motors stock analysis on TipRanks). Ultium Cells team is comprised of some of the finest minds in the automotive and electronics industries, but we are looking for more of those rare individuals. We look forward to a positive working relationship with the UAW. Neha Gupta for 2023 Canjex Publishing Ltd. All rights reserved. mesurer votre utilisation de nos sites et applications. 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. Overall, Wall Street analysts share Jonas bullish outlook on the stock. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. Latest news about Ultium Cells - Stock Market - CloudQuote Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. General Motors : Ultium Cells LLC and Li-Cycle Collaborate to Expand More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at http://www.gm.com. All rights reserved. Which is why we need a team of forward-thinking folks, ready to seize the opportunity and help us charge into a more sustainable, all-electric transportation future powered by Ultium Cells batteries. Nous, Yahoo, faisons partie de la famille de marques Yahoo. The cells manufactured by Ultium Cells LLC are large format, pouch-type cells that use a state-of-the-art nickel-cobalt-manganese-aluminum (NCMA) chemistry to deliver more range at less cost. Ultium Cells LLC - Company Profile and News - Bloomberg Markets Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. Both factories will supply the automaker with the cells needed for . These symbols will be available throughout the site during your session. "During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace," GM said in a statement. Sources. Stockwatch The General. Our temperature controlled environment will keep you comfortable all year long. 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. GM and LG Energy Solution are investing $2.3 billion in the joint venture to support EV manufacturing in the U.S. , and in turn, local jobs, education, career training and infrastructure. General Motors Reportedly Lays Off Employees in Product Development Domain as Part of C.. Morgan Stanley Upgrades General Motors to Overweight From Equalweight, Boosts Price Tar.. Nomura Adjusts General Motors Price Target to $36 From $39, Maintains Neutral Rating. Health Care Benefits start day one! 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 Copyright 2023 Surperformance. ETFs. Type a symbol or company name. International. Zero Emission | Advanced Technology | Ultium Cells LLC Team members and construction partners gathered to recognize this historic milestone, occurring just over one year after construction began and without a lost-time incident. . 2020 Benzinga.com - Benzinga does not provide investment advice. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. Li-Cycle and Ultium Cells LLC Announce Agreement on Recycling of The proposed facility will leverage advanced cell manufacturing processes and adapt to technological advances in battery and electric vehicle production. Sign up for notifications from Insider! Altium Limited (ALU.AX) Stock Price, News, Quote & History - Yahoo Finance U.S. markets open in 15 minutes S&P Futures Dow Futures -17.00(-.13%) -2.80(-0.16%) (-2.54%) Altium Limited (ALU.AX). In 2018, GM "un-allocated" its Lordstown Assembly plant, later idling the facility and then selling it to Lordstown Motors. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. "The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future," said GM Chairman and CEO Mary Barra. GM and LG Chem Ohio Joint-Venture Called 'Ultium Cells LLC' The company established its first research facility in the U.S. in the early 2000s. Written by Address: 7400 Tod Ave SW Warren, OH, 44481-9627 United States See other locations Phone: Website: www.ultiumcell.com Employees (this site): Modelled Employees (all sites): Actual Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? Ensure excellence of Battery Cell Manufacturing through implementation of best practices from each company to contribute to the expansion of Zero-Emission propulsion on a global scale. The company established its first research facility in the U.S. in the early 2000s. GM Opens Up a New Front in Its Battle With Tesla: Batteries A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production. This investment will allow us to provide our customer GM more battery cells faster and support GMs aggressive EV launch plan in the coming years, said Tom Gallagher, Ultium Cells LLC vice president of operations. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet,Buick,GMC,Cadillac, Baojunand Wulingbrands. These symbols will be available throughout the site during your session. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. Electricity is the future of transportation, powered by battery cells that are designed and manufactured by some of the brightest, most innovative people in the world. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. Jonas believes that for General Motors to capitalize on the opportunity, it will need to develop its ability to attract and retain capital and people. By: Li . 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, 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. General Motors has made several announcements in the last 18 months that underscore its commitment to an all-electric, zero-emissions future, including: General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. We have received election results from the National Labor Relations Board (NLRB) and respect the decision of our Ohio workforce supporting representation by the UAW. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. GM General Motors and LG Chem have named their joint venture "Ultium Cells LLC." "Ultium" is the name that GM revealed earlier this year when the car company announced its battery. Once fully operational, the plant will create 1,700 new high-tech jobs to support the production of battery cells for GMs Ultium Platform-based EVs, including the Chevrolet Silverado EV and GMC Sierra EV. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. Tools. Amount. Shares declined 1.9% in Thursdays after-market trading. Employees can receive career related educational support annually. The first Ultium-powered model, expected to be out late in 2021, will be a GMC Hummer pickup, reborn as an EV with up to 1,000 horsepower. Copy and paste multiple symbols separated by spaces. ULTIUM CELLS | Department of Energy Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. The Company specializes in developing raw materials into pouch cells.. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. DOE closes $2.5B loan for Ultium Cells battery production.
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