Latest news with #UltiumCells
Yahoo
4 days ago
- Automotive
- Yahoo
General Motors, LGES to Upgrade Spring Hill Site to Make LFP Batteries
General Motors Company GM and LG Energy Solution's (LGES) joint venture, Ultium Cells, is upgrading its Spring Hill, TN, plant to manufacture more affordable electric vehicle (EV) battery cells. These new batteries use lithium iron phosphate (LFP) chemistry, which is less expensive than traditional lithium-ion batteries since they don't rely on costly materials like cobalt and nickel. While LFP cells offer lower energy density, they are safer, longer-lasting and becoming increasingly competitive in terms of driving range, especially in China, where they power more than 80% of Kurt Kelty, GM's VP of batteries, propulsion and sustainability, the Spring Hill upgrade will allow for U.S.-based production of LFP batteries, complementing GM's current high-nickel offerings and future lithium-manganese-based batteries, helping to expand the company's EV currently offers 12 EV models, ranging in price from about $35,000 to more than $300,000. The upcoming Chevy Silverado EV and next-generation Chevy Bolt EV will feature LFP batteries, though GM hasn't confirmed if these battery packs will be built at Spring Hill. The new Bolt is expected to start production later this year and reach buyers in early 2026, well before LFP production begins locally, which is targeted for late 2027. The LFP version of the Silverado EV will reportedly offer around 350 miles of range and reduce vehicle cost by $6, Spring Hill plant was initially part of a $2.3 billion investment announced in 2021, and although the new upgrade builds on this partnership, no additional investment figures were provided. Meanwhile, GM continues to develop advanced battery technologies, including lithium-manganese-rich chemistries for large EVs, slated to launch around early 2028. It is also exploring silicon anodes and solid-state batteries in its Michigan R&D LFP batteries originated in the United States at the University of Texas at Austin, their mass adoption and technological advancements have been led by Chinese manufacturers like BYD and CATL. Korean companies, such as LG, have been slower to enter the LFP space but are now accelerating efforts. LFP technology is also gaining traction in the United States. Ford is developing it at its BlueOval Battery Park in Michigan and Tesla has expanded its Nevada LFP facility to support energy storage. Currently, the GM-LGES joint venture is North America's largest battery cell manufacturer. GM carries a Zacks Rank #3 (Hold) at better-ranked stocks in the auto space are Geely Automobile Holdings Limited GELYY, Aisin Corporation ASEKY and Westport Fuel Systems Inc. WPRT. While STRT and ASEKY sport a Zacks Rank #1 (Strong Buy) each at present, WPRT carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for GELYY's fiscal 2025 sales implies year-over-year growth of 76.25%. EPS estimates for fiscal 2025 and 2026 have improved 27 cents and 47 cents, respectively, in the past seven Zacks Consensus Estimate for ASEKY's fiscal 2026 sales and earnings implies year-over-year growth of 7.32% and 58.89%, respectively. The Zacks Consensus Estimate for WPRT's 2025 earnings implies year-over-year growth of 40.93%. EPS estimates for 2025 and 2026 have improved 44 cents and 23 cents, respectively, in the past 60 days. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Motors Company (GM) : Free Stock Analysis Report Westport Fuel Systems Inc. (WPRT) : Free Stock Analysis Report Geely Automobile Holdings Ltd. (GELYY) : Free Stock Analysis Report Aisin Seiki Co. Ltd. Unsponsored ADR (ASEKY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
5 days ago
- Automotive
- Yahoo
GM, LG Energy Solution JV to produce low-cost LFP battery cells in Tennessee
Ultium Cells, a joint venture (JV) between General Motors (GM) and South Korea's LG Energy Solution, is set to commence the production of low-cost lithium iron phosphate (LFP) battery cells at its Spring Hill facility in Tennessee, US. This move follows a $2.3bn investment announced in 2021. Ultium Cells will upgrade the Spring Hill manufacturing plant to scale LFP battery cell production. This shift will commence later this year, with commercial production anticipated by late 2027. This move is aimed to bolster the US's position in the electric vehicle (EV) battery market and provide consumers with more affordable EV options. GM claims that its JV sites in Spring Hill and Warren, Ohio, will constitute the 'largest' original equipment manufacturer (OEM) battery cell manufacturing capacity in the US. The JV plant will also produce nickel cobalt manganese aluminium (NCMA) pouch cells. The 'flexible EV platform' of GM has been designed to facilitate rapid integration of various cell chemistries and form factors. Currently, the Spring Hill plant employs around 1,300 individuals. GM is also preparing to finalise a location for producing lithium manganese rich (LMR) chemistry and is aiming to be the first firm to generate commercial-scale production of LMR prismatic battery cells. GM batteries, propulsion, and sustainability vice president Kurt Kelty said: 'At GM, we're innovating battery technology to deliver the best mix of range, performance, and affordability to our EV customers. 'This upgrade at Spring Hill will enable us to scale production of lower-cost LFP cell technologies in the US, complementing our high-nickel and future lithium manganese rich solutions and further diversifying our growing EV portfolio." LG Energy Solution Advanced Automotive Battery division head and executive vice president Wonjoon Suh said: 'The upgrade reflects the continued strength of our partnership with General Motors and our shared commitment to advancing EV battery innovation. 'We will bring our extensive experience and expertise in US manufacturing to the joint venture facility, further accelerating our efforts to deliver new chemistries and form factors that effectively capture the unmet needs in the EV market.' Earlier this month, GM reported a 7% increase in US sales during the second quarter of the year, contributing to a 12% rise in the first half of the year. "GM, LG Energy Solution JV to produce low-cost LFP battery cells in Tennessee" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
5 days ago
- Automotive
- Korea Herald
LG-GM venture to produce low-cost LFP batteries at Tennessee plant in 2027
Ultium Cells pivots to LFP batteries to cut EV costs, expand portfolio Ultium Cells, a joint venture between LG Energy Solution and General Motors, has decided to upgrade its battery cell manufacturing plant in Spring Hill, Tennessee, to produce low-cost lithium iron phosphate, or LFP, battery cells as it aims to expand its business portfolio. According to the announcement on Tuesday, the conversion of battery cell lines at the Tennessee site will begin later this year. Commercial production is expected to begin by late 2027. The plant has been rolling out lithium-ion batteries using cathode materials, namely nickel, cobalt and manganese, to produce LFP cells. 'The upgrade reflects the continued strength of our partnership with General Motors and our shared commitment to advancing EV battery innovation,' said Suh Won-joon Suh, executive vice president and head of the Advanced Automotive Battery division at LG Energy Solution. 'We will bring our extensive experience and expertise in US manufacturing to the joint venture facility, further accelerating our efforts to deliver new chemistries and form factors that effectively capture the unmet needs in the EV market.' The joint venture said that the cost for the upgrades will come from the $2.3 billion initial investment, which was first unveiled in 2021. It added that another Ultium Cells plant in Warren, Ohio, will continue manufacturing battery cells using nickel, cobalt, manganese and aluminum. The company said it aims for significant battery pack cost savings compared to today's high-nickel battery pack and widened consumer EV choices with the LFP battery technology. 'At GM, we're innovating battery technology to deliver the best mix of range, performance and affordability to our EV customers,' said Kurt Kelty, vice president of batteries, propulsion and sustainability at GM. 'This upgrade at Spring Hill will enable us to scale production of lower-cost LFP cell technologies in the US, complementing our high-nickel and future lithium manganese rich solutions and further diversifying our growing EV portfolio." According to the International Energy Agency's Global EV Outlook 2025 report, LFP batteries made up almost half of the global EV battery market last year with China leading the surge of the lower-cost battery products. The reports showed that LFP batteries accounted for approximately 80 percent of the batteries sold in China during the final two months of last year. 'LFP batteries have now reached a performance level sufficient for most EV applications, making their lower cost a key advantage for automakers aiming to mass markets,' said the report. The IEA report added that although the battery production capacity in the US reached over 200 gigawatt-hours in 2024 — an over two-fold increase since 2022 — the cost of production in America remains higher than Asia, while sudden policy shifts could affect the battery industry to increase production costs or slow expansion in the near- to mid-term future.
Business Insider
5 days ago
- Automotive
- Business Insider
GM upgrades Ultium Cells battery manufacturing plant in Spring Hill
General Motors (GM) said it is working with its Ultium Cells joint venture partner LG Energy Solution to upgrade its OEM battery cell manufacturing in the U.S. 'Just outside Nashville, American ingenuity and innovation are thriving in the rolling hills of Spring Hill, Tennessee,' the company said. 'Ultium Cells – General Motors' joint venture with LG Energy Solution – is demonstrating America's ability to lead in transformative new battery cell technology. With the Ultium Cells sites in Spring Hill and Warren, Ohio, GM has the largest OEM battery cell manufacturing capacity in this country. Building on a $2.3 billion commitment announced in 2021, Ultium Cells Spring Hill will guide the next phase of our battery strategy, capable of producing multiple chemistries. In addition to today's nickel cobalt manganese aluminum (NCMA) pouch cells, the Ultium Cells plant will produce battery cells using lithium iron phosphate (LFP) chemistry. LFP was an American breakthrough that's grown in popularity as a low-cost battery solution worldwide. I'm proud that we're bringing its benefits – and associated jobs – back to America. Work on the LFP battery cell lines at Spring Hill will start soon, with full commercial production targeted for late 2027.' Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with , delivered to your inbox every week.
Yahoo
5 days ago
- Automotive
- Yahoo
GM to challenge China's LFP monopoly with upgraded battery factory
GM said Monday it is working with joint venture partner LG Energy Solution to upgrade its Ultium battery factory to make lithium-iron-phosphate cells for the automaker's low-cost EVs. The factory's overhaul will give LFP production in the United States a significant boost. Despite being invented and commercialized in the U.S., today the vast majority of LFP cells are currently made in China. The $2.3 billion Spring Hill, Tennessee, battery plant is part of the Ultium Cells LLC joint venture between the automaker and Korean battery maker LG Energy Solution, a division of LG chem. The factory began pumping out lithium-ion cells, which have a nickel-manganese-cobalt chemistry, in 2024, about three years after it was first announced. The company said it will begin converting its battery cell lines at Spring Hill to produce LFP cells later this year, with commercial production expected by late 2027. The automotive industry has been gravitating to LFP batteries in recent years for their low cost and appealing safety profile. The raw materials that make up the chemistry are cheaper and more widely available than other chemistries like nickel-manganese-cobalt (NMC), and they're also less likely to catch fire. GM has been pursuing a three-pronged approach to battery sourcing for its EV range, which currently spans 12 models. At the high end, it will continue using NMC in models that require longer range. The longest-legged Chevy Silverado EV, for example, uses a massive 205 kilowatt-hour NMC pack to drive 492 miles on a single charge. In the middle, GM has developed a new chemistry it calls lithium-manganese-rich, or LMR. The new chemistry slashes the amount of nickel and cobalt in a cell and replaces it with cheaper, domestically available manganese. The result, GM said, will be a pack that delivers more range than LFP at a cost that's comparable to LFP today. LMR cells should hit the market in 2028. For entry level vehicles, GM is planning to switch to LFP, Andy Oury told TechCrunch in May. Given how consistently battery pack costs have come down over time, it's likely that LFP costs will drop below those for LMR in the coming years. The Spring Hill upgrades should start producing LFP cells for commercial sale in 2027. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
