GM and LG Chem enter joint venture to build a $2.3b EV battery factory

The new factory, which is expected to be among the largest in the world, aims at GM’s next generation of electric vehicles.

The No.1 US automaker, General Motors and South Korea's LG Chem will invest up to $2.3 billion by 2023 to form a joint venture for the production of batteries for electric vehicles.

The two companies plan to build a factory for the manufacturing of battery cells in the Lordstown-area of northeast Ohio.

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