Reuters reported exclusively that General Motors and South Korea’s LG Chem are set to announce a 50:50 joint venture in Ohio to make electric vehicle batteries. The facility in Lordstown will see investment of more than $2 billion, with GM and LG Chem expected to invest more than $1 billion each. The announcement comes after months of feuding, also reported by Reuters, between LG Chemical and South Korean neighbour SK Innovation in which the two firms have hit each other with U.S. lawsuits for battery patent infringements in a bitter row that threatens to disrupt the launches of electric vehicles (EVs) by some of the world’s biggest carmakers.
Reuters reveals GM, LG Chemical to set up EV battery plant in Ohio
04 December 2019, 12:00 am. 1 minute
Type: Reuters Best
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