(WJW) -- General Motors announced it will break ground on a new assembly plant in the Lordstown, Ohio, area in mid-2020 and create 1,100 new jobs.
In a conference call Thursday, GM CEO Mary Barra said the company is entering into an equally owned joint venture with South Korea-based LG Chem to mass produce battery cells for future battery-electric vehicles.
The two companies will make a combined $2.3-billion investment in the new venture, which will seek to drive the cost of batteries for electric vehicles down and increase their profitability to make all-electric vehicles more viable for the future.
In a press release, General Motors said the new battery plant will have an annual capacity of more than 30 gigawatt hours with room to expand. The plant will be flexible and able to change as technology and materials advance.
“With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions,” Barra said.
In the release, General Motors said it plans to create a new line of battery electric vehicles, including a new battery-electric truck to be unveiled in the fall of 2021.
Congressman Tim Ryan (OH-13) released the following statement:
“This is amazing news for the Mahoning Valley and all of Northeast Ohio. GM and LG Chem’s announcement to build an electric battery plant in Lordstown speaks to the unwavering commitment, strong work-ethic, and innovative spirit of our community. Electric vehicles are the future of our economy and transportation system. Last month’s announcement that Lordstown Motors will build electric trucks here and today’s announcement that GM-LG Chem will manufacture electric batteries here, underscore the leading role our community will play in the electric vehicle revolution happening today. I want the United States to dominate this market—we should be the global leader of electric vehicle manufacturing—and these investments are critical to making this a reality. Lordstown Motors and GM-LG Chem’s announcements are not only great for our community in Northeast Ohio, but for our country as well.”