CBI websites generally use certain cookies to enable better interactions with our sites and services. 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. General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio. 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. It was developed to easily move goods over short distances for example, from the delivery vehicle to the customer's front door. 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. Plus500. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. With the additional investment, the capacity expansion is expected to create 400 additional new jobs, bringing the expected plant total to 1,700 new high-tech jobs when the facility is fully operational. Lithium Americas Corporation is focused on developing the Thacker Pass project (Which is set to be the largest lithium deposit in the US, with an expected mine life of 46 years). Total Raised $2.5B Investors Count 1 Funding, Valuation & Revenue 1 Fundings Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. In 2025, it will have an estimated cost of US$110/kWh per 1 MWh battery energy storage system. We call on the ingenuity of our people, the technology behind our ultium battery cell manufacturing and the strengths of LG Energy Solution and General Motors. Ultium is so unique that it can contain either vertically- or horizontally-stacked cells to integrate into vehicle design - vertically for trucks, SUVs and crossovers, or horizontally for cars and performance vehicles. 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. Starting at $4.50. Since it is profitable, hedge funds aren't cautious about betting this South American company. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a zero-emission . 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. Production is slated for August of 2022. Johnson Controls International PLC is an Irish-owned multinational conglomerate based in Cork, Ireland, which manufactures fire, HVAC, and building safety equipment. These types of batteries are also referred to as lithium-metal batteries. Ultium Cells has 1 investors. GMis collaborating with seven charging network companies with over 60,000 charging plugs available to its customers. View the latest ALU stock quote and chart on MSN Money. Ultium is the name given to GM's new line of advanced lithium-ion batteries, which will power future EVs like the GMC Hummer EV and Cadillac Lyriq. 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. Source: Illus_man/Shutterstock Over the past few years, wagering on battery stocks has been a lucrative endeavor for stock . To help its goal of launching 30 electric vehicles globally by the end of 2025, General Motors Company (NYSE:GM) launched a new charging infrastructure plan Wednesday. At this point this company is perceived to be a speculative investment and there were only 3 hedge funds with equity positions in it. Battery cells represent a significant step away from fossil fuels and offer the potential to revolutionize passenger transportation in the form of electric and autonomous vehicles. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. "BrightDrop provides an ecosystem of smart, connected products, including electric vehicles and software-enabled services, offering commercial delivery companies a platform for sustainable growth.". From Green Power RSS Feed. In this article we present the list of the, Lithium batteries are primary batteries that have metallic lithium as an anode that is primarily mined in China, South America, and Australia while Chile is the. Ultium Cells' battery cell manufacturing mega-factory in Warren, Ohio will equal the size of 30 football fields and create more than 1,200 new jobs. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. 2023 Canjex Publishing Ltd. All rights reserved. The cells go into modules that then jointly power the vehicle inside the vehicle's base, or platform. 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. This $12 billion market cap company has $1 billion in cash and only $2 billion in debt which is very low compared to other large mining stocks. internet opportunity. Ultium Charge 360 is also available to our fleet and BrightDrop customers and offers fleet and facility management tools, integration with GM's fleet . We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. GM and LG Energy Solution Investing $2.3 Billion in 2nd Ultium Cells Manufacturing Plant in U.S. PR Newswire NASHVILLE, Tenn., April 16, 2021 NASHVILLE, Tenn., April 16, 2021 /PRNewswire/ -- 2.8 mi. The automaker's market cap is $69.7 billion. Albemarle Corp (NYSE: ALB) Albemarle Corp is a North Carolina based fine . EnerSys is one of the stored energy solutions for industrial applications. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. As the production of smartphones constantly increases, the demand for lithium-ion batteries in return increases as well, this promises constant positive demand and revenue for the lithium-ion battery industry. The U.S. Energy Department on Monday announced it intends to loan a joint venture of General Motors Co and LG Energy Solution $2.5 billion to help finance construction of new lithium-ion battery . These two exchanges are responsible for the majority of the North American and worldwide stock trading. They produce and distribute reserve power and motive power batteries, battery charges, power machines, battery accessories, and outdoor equipment enclosure solutions to consumers worldwide. 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. But we understand that it's what's on the inside that counts, with our batteries and our people. Lithium Americas Corporation ended the 3Q with cash and cash equivalents of roughly US$72 million, including an US$18 million drawn from its credit facilities to fund its Cauchari-Olaroz lithium brine project that is found in Argentina. Galaxy Resources (OTCMKTS: GALXF) American Battery Metals (OTCMKTS: ABML) Pilbara (OTCMKTS: PILBF) However, reducing our dependence on oil and ramping up an EV infrastructure would allow more . For more information about LG Energy Solution, please visit https://www.lgensol.com. Technology Innovation A sister plant of similar size and scope is planned for Spring Hill. In this article we present the list of the top 11 lithium and battery stocks to buy now. These are the most popular lithium and battery stocks among the 800+ hedge funds tracked by Insider Monkey: Piedmont Lithium Limited is an emerging lithium chemical company focused on the development of its Project in North Carolina. Driehaus Capital, SailingStone Capital, and billionaire Howard Marks' Oaktree are among SQM's top 5 holders in our database. They allow the company to use the Ultium platform, including the cells, for everything from large pickup trucks or vans to smaller cars and crossovers. QuantumScape ( NYSE:QS ) $4.4 billion. 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. Lithium Americas Corporation ended the 3Q with cash and, sh equivalents of roughly US$72 million, including an US$18 million drawn from its credit facilities to fund its Cauchari-Olaroz lithium brine project that is found in Argentina. The lithium-ion battery has become the most sought-after battery for electric vehicles because of its lighter weight, smaller size, and longer life capacity than the other batteries that are available in the market. The company has just been recently awarded the 2020 Gold Status for sustainability performance by the Global CSR rating agency, EcoVadis. Shares were up about 0.6% in early trading, while the . Claim your profile to get in front of buyers, investors, and analysts. Find company research, competitor information, contact details & financial data for Ultium Cells LLC of Warren, OH. "That equal and individual experience for each occupant will be a signature aspect of the Cadillac Celestiq," said Crystal Windham, Cadillac director of interior design. In 2010, the company built its first U.S battery plant in Holland, Michigan. Industry: Dry cell batteries, single or multiple cell. The van, called EV600, will be the second product. Work for a growing company in a growing industry with opportunities to learn and advance. The Thacker pass has the potential to be the leading source of lithium to output on a low-cost and larger scale. Ultium Cells LLC. It will allow us to build solid and stable U.S-based supply chains that enable everything from research, product development and production to the procurement of raw components,"LG Energy Solution President and CEO Jonghyun Kim said. Ultium is an electric vehicle battery and motor architecture developed by General Motors. Sign up for free newsletters and get more CNBC delivered to your inbox. DOE closes $2.5B loan for Ultium Cells battery production. 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 LLC Announces Plans to Produce More Battery Cells Faster, Ultium Cells Job Applicant Privacy Statement. More information on the company and its subsidiaries, includingOnStar, a global leader in vehicle safety and security services, can be found athttps://www.gm.com. Health Care Benefits start day one! Starting at $8.95. 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. Here is what EnerSys' CEO said in their press conference: "We exited our 2nd quarter with a renewed sense of optimism as our incoming order rate approached pre-pandemic levels. 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 manufacturing at Ultiums Lordstown . Lithium batteries are primary batteries that have metallic lithium as an anode that is primarily mined in China, South America, and Australia while Chile is the country with the largest lithium. Valucap Adult Classic Dad's Cap. They can be arranged in different combinations of flexible modules and battery packs to provide the energy for every segment on the road today, from performance vehicles to work trucks. Based on our 30 years of R&D experience, we deliver the most advanced batteries that have been infused with cutting-edge technologies to EVs, Energy Storage Systems (ESS) and Mobility & IT applications across the world. The loan was issued in late November 2022 and was announced in December 2022. This allows engineers to optimize battery energy storage and layout for each vehicle design. 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. GM used the event to flex its size and scale more than ever before. Our in-house research has shown that we can identify a small group of stocks that can outperform the S&P 500 Index on average by double digits annually using hedge fund sentiment data. Via The Motley Fool. Ultium Cells will build the new plant on land leased from GM. 2 Colors. For example, since March 2017, our monthly newsletter's portfolio of stock picks has beaten the market by more than 66 percentage points (, Lithium Americas Corporation is focused on developing the Thacker Pass project (. The Ultium Cells Spring Hill site joins other Ultium Cells battery cell manufacturing sites being constructed in Ohio and Michigan. Photo by Dan MacMedan for Chevrolet. 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. You can read more about your. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Sociedad Quimica Y Minera de Chile is a supplier of plant nutrients, lithium, iodine, and industrial chemicals. Today, the Ultium Cells battery cell manufacturing plant in Spring Hill, Tennessee, celebrated a major milestone as construction on the 2.8 million-square . By clicking Sign up, you agree to receive marketing emails from Insider We have been publicly sharing some of our monthly newsletter's stock picks as well. 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. 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. Keeping this in mind let's take a look at the best lithium and battery stocks to buy according to hedge funds: 5. 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 . U.S. Department of Energy invested in Ultium Cells's Loan funding round. Starting at $6.50. Dive deeper with interactive charts and top stories of ALTIUM LIMITED. 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. To create the specific rankings that will help you choose what to buy for the best lithium and battery stocks, we used hedge fund sentiment to measure the potential upside of these investment ideas and to predict the movement in the market. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. "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. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. GM previewed an electric air taxi concept, formally known as an electric vertical take-off and landing, or eVTOL, aircraft, for its Cadillac brand. The commercial market is expected to be a major growth area for EVs. Built at a cost of $2.6 billion, the 2.8 million-square-foot facility in Michigan is expected to create 1,700 new manufacturing jobs. This placed the company in the top 3 of all the companies that were evaluated in this group. Livent Corporation is known as a distributor and manufacturer of lithium chemicals, these lithium chemicals are used for applications in batteries, agrochemicals, aerospace alloys, and other industrial applications. Tickers CLF ITA PXD RIVN. Lithium batteries are primary batteries that have metallic lithium as an anode that is primarily mined in China, South America, and Australia while Chile is the country with the largest lithium reserves worldwide. Ultium Cells will invest $275 million in its Spring Hill, Tennessee, battery plant to expand EV battery cell output by 40%. Other start-up automakers such asAmazon-backedRivianas well as legacy automakers such asFord MotorandDaimlerhave announced plans to enter the segment. A joint venture between General Motors ( NYSE: GM) and South Korean tech firm LG Energy, Ultium Cells, is facing a union vote this week. As Barra put it, the mission of the Tuesday keynote was to promote "confidence" in the automaker's strategy. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. The cells go into modules that then jointly power the. The General. It showed how it's integrating new businesses and why it refused to spin off its EV business last year amid pressure from Wall Street. ChargePoint Holdings shares were up 5% to $26.33. Diamond Hill Capital talked about JCI in its 2020 Q1 investor letter. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE, Nissan and Mexican workers agree to 9% raise at Morelos plant, union says, Volkswagen's Scout to build $2 bln plant in South Carolina, Honda CEO touts EVs, but combustion engines could last until 2040, Samsung SDI to build battery plant with GM -Yonhap, Big Oil to take centerstage at Houston meet as markets, alliances shift. Latest News about Ultium Cells. The global revenues in 2025, for the lithium-ion market, is expected to exceed US$70 billion. Ultium Cells was founded as part of GM's long-term strategy to produce a complete range of zero-emissions, all-electric cars and trucks by 2035. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. Ultium Cells will build the new plant on land leased from GM. Shares of General Motors Company (NYSE: GM) have rallied on speculation of the company spinning off its electric vehicle business.. The Ultium pouches can be stacked vertically or horizontally. It gets even better with Ultium's innovative feature - digital programming. 5mo. 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. Like electric cars, even brake pad replacements are rare because regenerative braking returns energy to the battery, significantly reducing wear on brakes. Ultium Cells started construction on a battery cell plant near Spring Hill to take over providing the batteries for the Lyriq when it starts running later next year. 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. How do we do this? It plans to employ more than 1,100 workers once the plant is operating. The state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. Some of the major manufacturers of lithium batteries include CATL, LGChem, BYD, and Samsung. It's part of GM's $27 billion investment in electric and autonomous vehicles through then. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, has announced that it will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. 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. 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. Through Ultium Cells, LG Energy Solution and GM will merge their advanced technologies and capabilities to help accelerate automotive electrification. 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. 2 Colors. 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 They are also used in electric vehicles ranging from full-sized vehicles such as radio-controlled toy vehicles. "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. "There is a lot more to come in terms of rolling out independent business units with its own management teams, technological domains and go-to-market strategies.". LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. In October we shared this real estate stock idea and it is already up more than 50%. Both factories will supply the automaker with the cells needed for . The companies announced the $2.3 billion plant in 2019. 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. * Approximate amount of the loan facility approved at closing including principal and any capitalized interest. The two. GM and LG Energy Solution to build third Ultium Cells . Morgan Stanley's favorite stocks to play the $6 trillion A.I. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 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. 5,970 followers. Accessories View Category Page. GM has a full portfolio of electric products, not just vehicles, planned for the new unit, according to executives. Below we present to you the top 11 lithium and battery stocks to buy now based on our hedge fund sentiment data. Both are built on GM's Ultium platform. Ultium in April announced a second $2.3 billion U.S.-based battery factory in Spring Hill, Tennessee that is due to open in 2023. 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. A sedan called the Cadillac Celestiq is expected to be a new flagship vehicle for the automaker, featuring a personalized zone for each passenger. GM is investing billions in autonomous vehicles, but they largely took a back seat to EVs for the automaker at this year's CES. 86% of retail CFD accounts lose money, Blink Charging Shifting Revenue With Multiple Business Model And Channel Checks Keeps Analyst At Sidelines, Blink Charging Co (BLNK) Gets a Buy from Roth MKM, US Postal Service Looks Electric: Here's The Latest Winners In New Round Of Truck Contracts, EV charging earnings: Wallbox stock slides while Blink lights up, Tesla Supercharger Stations Now Open For Rivals In The United States: Here's How It Works And Why It's Important, Here's How Much You Would Have Made Owning Blink Charging Stock In The Last 5 Years, 3D Systems, CarGurus, Sarepta Therapeutics And Other Big Stocks Moving Higher On Wednesday, Registration on or use of this site constitutes acceptance of our. GM showed how it's integrating new businesses and why it refused to spin off its EV business last year amid pressure from Wall Street. The three new manufacturing facilities in Ohio, Michigan, and Tennessee are expected to create 6,000 construction jobs and 5,100 operations jobs. 2023 CNBC LLC. You're more than your latest funding, tell our customers your company's story. A Japanese conglomerate and battery supplier to Tesla. Recent news which mentions Ultium Cells. The General Motors . It is located in one of the premier regions in the world for lithium exploration. Johnson Controls for the quarter ending in September 2020 generated US$5.954B in revenue, a 5.1% decline year-on-year. Get this delivered to your inbox, and more info about our products and services. As they are designed, these primary systems use a charged cathode which is an electro-active material with crystallographic vacancies that are filled gradually during the discharge. The automaker also featured its Super Cruise hands-free driving system, reconfirming a plan to offer the technology on 22 vehicles by 2023. 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. Data is a real-time snapshot *Data is delayed at least 15 minutes. Valucap Adult Classic Dad's Cap. The most credible of these 3 positions belongs to Michael Gelband's, The companys revenue for trailing twelve months was $1.8 billion. General Motors (ticker: GM) stock jumped, a little, in response to the news. Tickers AAPL ABT DXCM. Ultium Cells LLC - Spring Hill, Tennessee plant in brief: General Motors and LG Chem joint venture (50/50) manufacturing of lithium-ion battery cells for electric vehicles $2.3 billion. The company established its first research facility in the U.S. in the early 2000s. With this growing demand, the lithium-ion battery industry is projected to hit 87.54 billion USD in 2027 at 13% CAGR. The greatest wealth in health. General Motors has committed over $27 billion to electric vehicle and autonomous vehicle efforts through 2025. GM's stock closed up 1.9% at $48.73 a share, setting a new closing record after hitting an intraday high of $50.97 earlier Wednesday. That number will have to increase perhaps as much as tenfold to meet Teslas goal alone, and this doesnt even take into account other vehicle makers and lithium battery requirements. Ultium, a joint venture between GM and Korea-based LG Energy Solution, is building a $2.3 billion factory near the automaker's former Lordstown assembly complex. Sign up for our newsletter for the latest tech news and scoops delivered daily to your inbox.