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' 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. According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. Ultium Cells Job Applicant Privacy Statement. TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. General Motors shares are up about 41% year to date after a 13.58% pop in 2020. The analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price.. Ultium batteries are unique in the industry because the large-format, pouch-style cells can be stacked vertically or horizontally inside the battery pack. Secure and increase the performance of your investments with our team of experts at your side. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. Our Mission: Transform the way we power vehicles to support our customer GM's installed North American electric vehicle assembly capacity, while supporting GM plans to supply other automotive companies and other industries including rail, aerospace, heavy trucking and marine customers. 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. Sources. 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. Latest News about Ultium Cells. Ultium Cells will build the new plant on land leased from GM. 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. Investors. 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. Ultium Cells will build the new plant on land leased from GM. Stay up to date with what you want to know. Work for a growing company in a growing industry with opportunities to learn and advance. By expanding battery cell output at Ultium Cells Spring Hill, this investment will help GM offer customers the broadest EV portfolio of any automaker and further solidifies our path toward U.S. EV leadership., The increased cell production capacity at Ultium Cells will power more EVs in North America, moving toward a greener future," said Charles Oh Young Hyun, president at LG Energy Solution Michigan. Why GM's Stock . 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). A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production. In August this year, 85% of Ultium Cells workers signed. 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. Vous pouvez modifier vos choix tout moment en cliquant sur le lien Tableau de bord sur la vie prive prsent sur nos sites et dans nos applications. 10 Biggest Price Target Changes For Tuesday. 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. 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. 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. GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. Ultium Cells will provide battery cell capacity to support GM's North American electric vehicle assembly capacity of more than 1 million units by mid-decade, while supporting GM plans to supply other automotive companies and other industries including rail, aerospace, heavy trucking and marine customers. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. Date. Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. IBM Acquires myInvenio To Enhance Business Processes Automation. Health Care Benefits start day one! LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. Overview. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. 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. The facility will be located in Spring Hill, Tennessee. A final selection though hasnt yet been made. . LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. But we understand that it's what's on the inside that counts, with our batteries and our people. In December 2022, the Department of Energy announced the closing of a $2.5 billion loan to Ultium Cells LLC to help finance the construction of new lithium-ion battery cell manufacturing facilities in Ohio, Tennessee, and Michigan. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. 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. 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. Tools. The proposed facility will leverage advanced cell manufacturing processes and adapt to technological advances in battery and electric vehicle production. All rights reserved. This allows engineers to optimize battery energy storage and layout for each vehicle design. 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. 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. 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. Written by FY . 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. 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. 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. 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 States. 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. International. Valuation. Additional career opportunities can be found on the Ultium Cells website. U.S. Department of Energy. 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. Currencies. Related News Ultium Cells LLC 6,477 followers 2mo Today, we celebrated the final beam installation at our facility under construction in Lansing, Michigan alongside construction partners and ironworkers! 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. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. 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. AON Board Increases Quarterly Dividend By 11% During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. These symbols will be available throughout the site during your session. Li-Cycle Corp. ("Li-Cycle" or "the Company"), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced an agreement with Ultium Cells LLC ("Ultium"), a joint venture of General Motors ("GM") and LG Energy Solution ("LGES"), to recycle up to 100% of the scrap generated by battery cell . The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Ultium has said that hourly workers currently make between $16 and $22 an hour with full benefits, incentives and tuition assistance. 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. The plant is to be built by Ultium Cells LLC, a joint venture between the two companies. Real-time Estimate Cboe BZX You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. When fully operational in 2022, the $2.3 billion Ultium Cells LLC plant in Lordstown will span three million-square-feet, with annual capacity of approximately 35 gigawatt hours. 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. Ditch the brown bag and enjoy lunch in the charging station. Create your Watchlist to save your favorite quotes on Nasdaq.com. Treasuries. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Revenue. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. Shares declined 1.9% in Thursdays after-market trading. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Markets. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Sign up for notifications from Insider! 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. 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. We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. [19] [20] Specifications [ edit] 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. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. Take care of yourself and your family with great benefits. 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. Our temperature controlled environment will keep you comfortable all year long. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Ultium Cells Hosts Battery Electric Vehicle Training in Partnership With GM, OnStar and the Illinois Fire Service Institute, Ultium Cells Lansing Celebrates Completion of Steel Installation, Holds Topping Out Ceremony, Ultium Cells Welcomes Treasury Secretary Janet Yellen To Spring Hill, Statement from Ultium Cells on Ohio Union Vote, Ultium Cells Job Applicant Privacy Statement. 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. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. TipRanks->, General Motors and LG Energy have agreed to invest more than $2.3 billion in constructing a second battery plant in Tennessee. The closure became an issue when President Donald Trump got involved, and it remained an issue through the 2019 United Auto Workers strike against GM. The 2.8-million square foot Ultium Cells LLC plant is the first of at . For more information about Ultium Cells, please visit https://www.ultiumcell.com. Jonas listed Cadillac, Corvette, OnStar, China JVs, GM Hydrotec, GM Financial, Ultium EV batteries and Cruise robotaxis among the businesses, which he named the arms of the "GM SPACtopus." Deutsche Bank Adjusts General Motors Price Target to $35 From $37, Maintains Hold Ratin.. Chief Financial Officer & Executive Vice President, CTO, Vice President-Global Research & Development. 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. The facility will be located in Lansing, Michigan. Nous, Yahoo, faisons partie de la famille de marques Yahoo. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. 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. 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 States. 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. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. 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.. 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 All rights reserved. 2020 Benzinga.com - Benzinga does not provide investment advice. 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. Marvell Shareholders Approve Acquisition Of Inphi Ultium Cells LLC Ultium Cells LLC manufactures battery cells used in electric cars and other electric vehicles. Ultium Cellsis a joint venture between General Motors and LG Energy Solution that will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. Overall, Wall Street analysts share Jonas bullish outlook on the stock. We are looking for talented individuals with diverse skills, experiences, and a can-do spirit to grow with us in Warren, Ohio,Spring Hill, Tennessee, and Lansing, Michigan. Loan. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. Copy and paste multiple symbols separated by spaces. * Approximate amount of the loan facility approved at closing including principal and any capitalized interest. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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 plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. 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. 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.
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