GM And LG Energy Scrap Plan For Fourth Joint Venture Battery Plant, Says Report | Carscoops carscoops
states that talks between the two companies in recent months have ended without an agreement on a fourth plant being reached. It is claimed that the car manufacturer is holding discussions with one other battery supplier that it could partner with on a new battery cell factory.
It is understood that executives from LG Energy were hesitant to commit to a fourth cell factory with GM given the extraordinary pace of its current U.S. expansion. Not only is it working on three factories with GM but LG Energy is also working on a plant with Stellantis in Windsor, Ontario, and one with Honda in Ohio. Uncertainty around the current macroeconomic outlook is also thought to have contributed to LG Energy’s decision to not move forward.
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