Category: US Motoring Press

GM joint venture gets $2.5 billion government loan to help build EV battery cell plants

General Motors’ joint venture with LG Energy Solution is on track to receive a multibillion-dollar loan from the U.S. government to build battery cell plants for electric vehicles, including one going up in Lansing. On Monday, the Department of Energy announced “a conditional commitment” for $2.5 billion to GM and LG’s 50-50 joint venture called Ultium Cells LLC.  “While this conditional… Continue reading GM joint venture gets $2.5 billion government loan to help build EV battery cell plants

GM’s new website, EV Live, connects potential buyers with EV specialists: What to know

General Motors has a new idea to encourage electric vehicle adoption: EV Live. On Monday morning, GM introduced and launched the new website, evlive.gm.com, which invites people to interact one-on-one with EV specialists to learn everything they need to know about EVs. GM leaders say it will be a key factor in helping more people feel comfortable with EV adoption. “Addressing… Continue reading GM’s new website, EV Live, connects potential buyers with EV specialists: What to know

Energy Department will lend G.M. and LG $2.5 billion to build battery factories.

The U.S. Energy Department said Monday that it would lend $2.5 billion to General Motors and LG Energy Solution to build battery factories, advancing the Biden administration’s plan to promote electric vehicles and reduce dependence on China for critical components. G.M. and LG Energy, a South Korean battery maker, are partners in Ultium, a joint… Continue reading Energy Department will lend G.M. and LG $2.5 billion to build battery factories.

Tesla will spend more to increase production at two new factories.

Tesla said on Monday that it was increasing spending by about $1 billion to ramp up its factories, develop new batteries and finance other projects. In a securities filing, Tesla said it expected capital expenditures to be $6 billion to $8 billion in 2022, up from an April forecast of $5 billion to $7 billion.… Continue reading Tesla will spend more to increase production at two new factories.

To preserve jobs, UAW head says battery plants must be union

Southfield — If the United Auto Workers union can’t organize workers at new electric-vehicle battery factories that will supply Detroit’s three automakers, the union’s future would be in serious doubt. Ray Curry, president of the 372,000-member UAW, says union representation at the battery plants is critical, given that the major automakers are staking their futures… Continue reading To preserve jobs, UAW head says battery plants must be union

Energy Department plans to loan GM battery joint venture $2.5 billion

Washington — The Department of Energy said Monday it plans to loan General Motors Co. and LG Energy Solution’s joint venture $2.5 billion to build EV battery plants in Michigan, Ohio and Tennessee. GM announced in January that it plans to invest nearly $7 billion in EV and battery production at four sites around Michigan, including a $2.5… Continue reading Energy Department plans to loan GM battery joint venture $2.5 billion

Mini to unveil Aceman EV crossover concept this week

Mini will unveil a radical-looking new concept car called the Aceman this week, that will spearhead a fresh design language as it heads towards becoming an EV-only brand from the early 2030s. The electric crossover concept will pave the way for Mini models of the future, the brand said, and will join soon-to-be-revealed electric versions of the Mini three-door hatchback and… Continue reading Mini to unveil Aceman EV crossover concept this week