General Motors and LG New Energy select or finalize Indiana for fourth U.S. battery manufacturing plant

Ultium Cells LLC, a joint venture between General Motors and LG New Energy, confirmed Thursday that GM and LG New Energy are considering building a fourth U.S. battery manufacturing plant in New Carlisle, Indiana, according to reports.

According to Korean media Businesskorea reported in February, General Motors President Mary Barra said that Ultium Cells, a joint venture between the company and LG Energy, will disclose the location of its fourth battery plant in the United States in the first half of 2022.

A spokesman for Ultium Cells LLC said Ultium had submitted an application for the tax cut, which it hopes will be approved by the end of the month. The U.S. Department of Energy plans to provide Ultium Cells LLC with a $2.5 billion loan to help it build three battery plants, it was reported last month. The three plants are located in Ohio, Tennessee and Michigan.

It is reported that in order to support the development of the battery industry, the U.S. government launched the “Advanced Technology Vehicle Manufacturing” (ATVM) loan program, which is also the first time that the U.S. Department of Energy has provided loans specifically for battery manufacturing under the automotive program. The program has previously provided low-interest government loans to Tesla, Ford Motor and Nissan.