GM abandons Michigan battery factory–and 1,700 jobs–Toyota saves Ultium with $1.5B investment
General Motors sure pulled a fast one on Michigan. In 2022, when EVs were riding high and Biden was in office, GM and LG Energy Solution announced a $2.6 billion Ultium cells battery factory in Lansing. GM soaked up the good press, bragging about “strengthening our Michigan and U.S. manufacturing presence” and promising 1,700 new jobs.
Toyota steps in to support Michigan EV battery plant with $1.5B order after GM backs out
In a turn of events, Toyota is stepping in to support LG Energy Solution’s EV battery plant in Michigan. Toyota reportedly placed a $1.5 billion order to boost operations at the facility after GM backed out. GM reached a non-binding agreement with LG in December to sell its stake in their planned EV battery plant in Lansing, Michigan.
Toyota shifts $1.5bn order to LG’s Michigan battery plant after GM exits
Toyota Motor has agreed to redirect a $1.5bn order to LG Energy Solution (LGES) to support operations at the Ultium Cells battery cell plant in Lansing, Michigan in the US, reported Bloomberg citing people familiar with the matter.
Toyota is backing LG battery plant with $1.5 billion order
GM said in December it would sell its $1 billion stake in the Lansing, Michigan, plant, leaving LG scrambling to find new customers.
Toyota to transfer LG Energy battery order to Michigan plant
Toyota Motor has agreed to transfer its order for LG Energy Solution vehicle batteries to a Michigan plant that General Motors is exiting, the Japanese automaker confirmed Tuesday. GM in December said it would sell its stake in the plant,
EV Batteries With Higher Silicon Content Are Coming: GM Exec
Silicon anodes improve charging speeds and driving range. GM says the U.S. is well-positioned to incorporate them.
Nikola, electric truck maker, files for bankruptcy
PHOENIX — Nikola, the once-booming electric vehicle company headquartered in Phoenix, filed for Chapter 11 bankruptcy ...
Why an electric-truck maker once worth more than Ford just went bust
Nikola rode a wave of optimism about EV startups, but after years of scandals and financial troubles, it filed for bankruptcy ...
Green Car Reports6d
Ford developing split-battery EV charging with dual charge ports
Automakers appear to still be thinking out how to make the most of multiple charging ports—including dividing up EV batteries ...
Fast Company on MSN11d
EV Winter is here. Carmakers are betting on a thaw
And yet, battery plants and electric-car factories are still going up across a swath of ... You might be wondering why ...
Business Times2d
Toyota is backing LG battery plant with US$1.5 billion order
TOYOTA Motor has agreed to shift a US$1.5 billion order with LG Energy Solution to bolster operations at a Michigan battery ...
GM’s battery guru is still bullish on electric vehicles despite Trump threat
A self-described “battery geek”, Kelty joined the Detroit carmaker a year ago and has revamped its strategy for powering EVs. The company told investors in October that it would pivot from using its ...
Is General Motors Company (GM) the Best EV Stock to Buy for The Long Term?
We recently published a list of 12 Best EV Stocks to Buy for The Long Term. In this article, we are going to take a look at ...