TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. DOE closes $2.5B loan for Ultium Cells battery production. dvelopper et amliorer nos produits et services. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors has made several announcements in the last 18 months that underscore its commitment to an all-electric, zero-emissions future, including: General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. In 2019, GM announced the formation of Ultium Cells LLC. Spring Hill, Tenn. Ironworkers and construction partners at the Ultium Cells battery cell manufacturing facility in Spring Hill, Tennessee, marked a construction milestone today with the final beam installation at what will soon be a 2.8-million-square-foot operation. The General Motors . We need technology-savvy people to fill roles across our organizationmanufacturing, administration, and more. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. GM ( GM) said that via the Ultium Cells LLC joint venture with LG Energy, the car marker is "exploring the feasibility of constructing a second state-of-the-art battery cell plant." A. Secure and increase the performance of your investments with our team of experts at your side. Our leadership prioritizes health and safety, encourages employee engagement, welcomes diversity, and promotes an atmosphere of inclusiveness. Copyright 2023 Surperformance. The Strong Buy consensus rating shows 11 Buys versus 1 Hold. Overview. 1Actual range will vary based on several factors, including temperature, terrain, battery age, vehicle model, loading, use and maintenance. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. 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. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. 2023, Nasdaq, Inc. All Rights Reserved. GM's future Ultium-powered EVs are designed for Level 2 and DC fast charging. Ultium Cells Job Applicant Privacy Statement. Revenue. General Motors(NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. Jonas has an $80 price target on GM,. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE. Steel construction on the 2.8 million square-foot facility will continue into Spring of 2023. GM and LG Chem Ohio Joint-Venture Called 'Ultium Cells LLC' When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. The move, which was first reported by the Wall Street Journal, is part of the Detroit car makers strategy to expand its investment in electric vehicles. We look forward to a positive working relationship with the UAW. "The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system.". General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. Stock Market | Stock Quote - Fat Pitch Financials "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. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. 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. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. Ultium Cells is taking the appropriate steps to support GMs plan for more than 1 million units of EV capacity in North America by mid-decade., Ultium Cells will play a critical role in making GMs commitment to an all-electric future a reality, said Tim Herrick, GMs vice president of EV Launch Excellence. US: GM To Build Two Additional Battery Cell Plants - InsideEVs The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. This allows engineers to optimize battery energy storage and layout for each vehicle design. The loan was issued in late November 2022 and was announced in December 2022. Energy options range from 50 to 200 kilowatt hours, which could enable a GM-estimated range up to 450miles or more on a full charge with 0-60 mph acceleration in 3 seconds1. A General Motors and LG Energy Solution $2.3 billion joint venture battery production plant in Ohio has begun production. According to consensus estimates on Wall Street, General Motors stock is a Strong Buy based on 12 Buys and 1 Hold rating. Ditch the brown bag and enjoy lunch in the charging station. (See General Motors stock analysis on TipRanks). Take care of yourself and your family with great benefits. General Motors : Ultium Cells LLC Seeking 1,100 Team Members to Help Technology Innovation We embrace this potential by manufacturing our battery cells in cutting-edge facilities where quality and safety are the top priorities. Jonas believes that for General Motors to capitalize on the opportunity, it will need to develop its ability to attract and retain capital and people. On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages. ETFs. IBM Acquires myInvenio To Enhance Business Processes Automation. Ultium battery cells feature nickel-cobalt-manganese-aluminum (NCMA) chemistry, and will be manufactured by Ultium Cells LLC, a joint-venture of GM and LG Energy Solution. The 2.8-million square foot Ultium Cells LLC plant is the first of at . (See GM stock analysis on TipRanks). General Motors Reportedly Lays Off Employees in Product Development Domain as Part of C.. Morgan Stanley Upgrades General Motors to Overweight From Equalweight, Boosts Price Tar.. Nomura Adjusts General Motors Price Target to $36 From $39, Maintains Neutral Rating. The General Motors Thesis: Ultium is a major part of General Motors entire EV capabilities, Jonas said. Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Our temperature controlled environment will keep you comfortable all year long. If our forecasts for the long term growth of the global EV market are even remotely in the ballpark, we believe there will be plenty of room to go around for competing EV supply beyond the likes of Tesla," Jonas wrote in the note. GM Opens Up a New Front in Its Battle With Tesla: Batteries LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. The greatest wealth in health. GM confirms $2.3 billion investment with LG in battery cell - Electrek NOW WATCH: Here's how the million-mile battery could lead to Teslas lasting a lifetime, GM revealed earlier this year when the car company announced its battery technology, Visit Business Insider's homepage for more stories. According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. These symbols will be available throughout the site during your session. WARREN, Ohio Ultium Cells today welcomed Ohio Governor Mike DeWine to its battery cell manufacturing facility in Ohio. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." Ultium Cells LLC Company Profile | Warren, OH - Dun & Bradstreet 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. General Motors (GM) Ultium Cells Workers Vote to Join UAW - Yahoo Finance 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. "During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace," GM said in a statement. LG Energy Solution's Advanced Automotive Battery leads the market with its outstanding technologies and products. My Watchlist. Both factories will supply the automaker with the cells needed for . Team members and construction partners gathered to recognize this historic milestone, occurring just over one year after construction began and without a lost-time incident. 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. Once fully operational, the plant will create 1,700 new high-tech jobs to support the production of battery cells for GMs Ultium Platform-based EVs, including the Chevrolet Silverado EV and GMC Sierra EV. UPDATE 1-GM, LG Energy joint venture Ohio battery plant begins production Neha Gupta for 0. Ultium Cells Stock Price, Funding, Valuation, Revenue & Financial Real-time Estimate Cboe BZX . Employees can receive career related educational support annually. The General. Valuation. 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 facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. U.S. Department of Energy. While some investors view Ultium as copying Tesla Inc (NASDAQ:TSLA), there seems to be only one mission for General Motors to grow. The two companies are building a $2.3 billion battery plant in northeast Ohio expected to open its doors next year to supply enough batteries to power hundreds of thousands of vehicles annually. AON Board Increases Quarterly Dividend By 11% $2,500M. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. LANSING, Mich. Ironworkers, construction partners and Ultium Cells leadership today celebrated the final beam installation at the Ultium Cells battery cell manufacturing facility under construction in Lansing, Michigan. U.S. Department of Energy LP 101000 Independence Avenue, SWWashington D.C. 20585, New Factories in Ohio, Tennessee, and Michigan Will Create More than 11,000 Good-Paying Jobs and Reduce the Nations Reliance on Other Countries to Meet Increased Demand for Electric Vehicle Technologies, Today the Department of Energys Loan Programs Office (LPO) announced a conditional commitment to Ultium Cells LLC for a $2.5 billion loan to help finance the construction of new lithium-ion (Li-ion) battery cell manufacturing facilities in OH, TN, MI. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions. Ultium Cells, a joint venture between General Motors and LG Energy Solution, will manage battery cell production at the three facilities, as a critical move to address the growing consumer demand for electric vehicles (EVs) on American roadways. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. General Motors' 'Resilient' Internal Combustion Franchise, Cost Cutting Warrant Upgrade.. General Motors' Traditional Franchise Can Still Spur Billions of Dollars in Cash Flow, .. GM cuts several hundred full-time contract workers, General Motors Co Says Small Number Of Contractors Have Departed Co - Spokesperson, General motors co says says impacted contractors were notified b, General motors co says small number of contractors have departed. ", "This partnership with General Motors will transform Tennessee into another key location for electric vehicle and battery production. Type a symbol or company name. 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. December 12, 2022. Altium Limited (ALU.AX) Stock Price, News, Quote & History - Yahoo Finance U.S. markets open in 15 minutes S&P Futures Dow Futures -17.00(-.13%) -2.80(-0.16%) (-2.54%) Altium Limited (ALU.AX). The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. Loan. Address: 7400 Tod Ave SW Warren, OH, 44481-9627 United States See other locations Phone: Website: www.ultiumcell.com Employees (this site): Modelled Employees (all sites): Actual Revenue: Modelled Year Started: ESG ranking: ESG industry average: What is D&B's ESG Ranking? The company established its first research facility in the U.S. in the early 2000s. [19] [20] Specifications [ edit] LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. The General Motors Analyst: Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. Markets. 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 facilitys battery cell output by more than 40 percent, from 35 gigawatt-hours to 50 GWh, when the plant is fully operational. LANSING, Mich. Today Ultium Cells celebrates the beginning of steel construction at its third battery cell manufacturing facility in the U.S. Automakers aiming to compete in the growing electric-car market want to secure a steady supply of batteries. Sharon Wrobel for General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. The proposed facility will leverage advanced cell manufacturing processes and adapt to technological advances in battery and electric vehicle production. For more information about LG Energy Solution, please visit https://www.lgensol.com. Deutsche Bank Adjusts General Motors Price Target to $35 From $37, Maintains Hold Ratin.. Chief Financial Officer & Executive Vice President, CTO, Vice President-Global Research & Development. Si vous ne souhaitez pas que nos partenaires et nousmmes utilisions des cookies et vos donnes personnelles pour ces motifs supplmentaires, cliquez sur Refuser tout. Costcos 2Q Sales Soar 15% On E-Commerce Boom; Street Is Bullish, Splunks 4Q Results Top Wall Street Estimates; Shares Jump 5.1%, Zynga Snaps Up Echtra Games; Street Says Buy, Do Not Sell My Personal Information (CA Residents Only). Shares declined 1.9% in Thursdays after-market trading. Electricity is the future of transportation, powered by battery cells that are designed and manufactured by some of the brightest, most innovative people in the world. Ultium Cells Hosts Battery Electric Vehicle Training in Partnership With GM, OnStar and the Illinois Fire Service Institute, 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 Job Applicant Privacy Statement. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials. Amount. Additional career opportunities can be found on the Ultium Cells website. The new battery cell plant will create 1,300 new jobs. General Motors confirmed on Thursday that the vehicle maker is weighing building a second battery cell manufacturing plant in the US with joint venture partner LG Energy Solutions. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. 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. 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 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. 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. Ultium batteries are unique in the industry because the large-format, pouch-style cells can be stacked vertically or horizontally inside the battery pack. GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. Morgan Stanley analyst Adam Jonas last month maintained a Buy rating on the stock with a $80 price target (54% upside potential) following recent talks with investors, which point to a rising interest in what he calls "the individual 'hidden gems' within" GMs technology and services portfolio, including scalable technologies in electric, connected and autonomous vehicle end markets. Jonas has an $80 price target on GM, implying 36.2% upside potential to current levels. Get the latest ride including electric vehicles with Ultium Cells at a discount on General Motors Vehicles. Ultium Cells LLC 6,477 followers 2mo Today, we celebrated the final beam installation at our facility under construction in Lansing, Michigan alongside construction partners and ironworkers! 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. According to the analyst, the Ultium Cells LLC joint venture will be a game-changer for GM and he expects it to result in value creation for shareholders. 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. 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. Li-Cycle Expands Partnership with Ultium Cells LLC; Li-Cycle to Operate New Lithium-Ion Battery Recycling Facility Co-Located with Ultium Cells LLC's Battery Cell Manufacturing Plant in Ohio . WARREN, Ohio Yesterday, Ultium Cells hosted General Motors, OnStar and the Illinois Fire Service Institute (IFSI) to deliver hands-on training to prepare local community First and Second Responders to operate safely at incidents involving Battery Electric Vehicles. All rights reserved. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. A final selection though hasnt yet been made. Written by Ultium Cells Job Applicant Privacy Statement. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. We have received election results from the National Labor Relations Board (NLRB) and respect the decision of our Ohio workforce supporting representation by the UAW. The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system. Morgan Stanley Raises General Motors Target On Ultium Valuation - Yahoo Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. GM General Motors and LG Chem have named their joint venture "Ultium Cells LLC." "Ultium" is the name that GM revealed earlier this year when the car company announced its battery. For more information about Ultium Cells, please visit https://www.ultiumcell.com. 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. Find the latest Altium Limited (ALMFF) stock quote, history, news and other vital information to help you with your stock trading and investing. Access your favorite topics in a personalized feed while you're on the go. 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 . General Motors : Ultium Cells LLC Starts Ground Prep on New Electric Jonas listed Cadillac, Corvette, OnStar, China JVs, GM Hydrotec, GM Financial, Ultium EV batteries and Cruise robotaxis among the businesses, which he named the arms of the "GM SPACtopus." Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. Sign up for notifications from Insider! Investors. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. GM, LG Energy Mull Second Battery Cell Plant In US; Street Is - Nasdaq In August this year, 85% of Ultium Cells workers signed. How do we do this? Battery cells are an important step away from fossil fuels, but they also have the potential to revolutionize passenger vehicles as fundamentally as the internal combustion engine did all those years ago. GM And LG To Invest $2.3B In Tennessee Manufacturing Plant Latest News about Ultium Cells. Ultium has said that hourly workers currently make between $16 and $22 an hour with full benefits, incentives and tuition assistance. GM (GM) said that via the Ultium Cells LLCjoint venture with LG Energy, the car marker is exploring the feasibility of constructing a second state-of-the-art battery cell plant. A decision should be made by the first half of 2021, the US vehicle maker said. GM Accelerates its Drive to Lead the EV Industry with $7 Billion Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. Altium Limited (ALMFF) Stock Price, News, Quote & History - Yahoo Finance GM and LG are on the cusp of taking a decision to locate the plant in Tennessee, the WSJ reported. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. FY . 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; 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. Buoyed by the move to construct the new battery cell plant, Morgan Stanleys analyst Adam Jonas reiterated a Buy rating on the stock. Morgan Stanley Raises General Motors Target On Ultium - Benzinga The company established its first research facility in the U.S. in the early 2000s. 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.
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