LG Energy Solution will adapt Siemens’ smart factory technology at its Ultium Cells’ factory in Tennessee, the battery company said. The two companies signed a memorandum of understanding on the partnership Tuesday.
Posco Chemical, a subsidiary of Korean steel giant Posco, is forming a joint venture with General Motors to source key battery materials for the American carmaker's electric vehicle (EV) models.
Ultium Cells is investing 2.7 trillion won ($2.4 billion) in a battery factory in Spring Hill, Tennessee, the company’s shareholders announced Saturday.
Posco Chemical will supply anodes, one of four core components of an electric vehicle (EV) battery, to Ultium Cells, an EV battery joint venture between General Motors and LG Energy Solution.
Posco Chemical will supply cathodes and perhaps even anodes for General Motors’ next electric vehicles (EVs).