The facility will be located in Lansing, Michigan. 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). While some investors view Ultium as copying Tesla Inc (NASDAQ:TSLA), there seems to be only one mission for General Motors to grow. 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. General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio. News. The. Shares declined 1.9% in Thursdays after-market trading. 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 has said that hourly workers currently make between $16 and $22 an hour with full benefits, incentives and tuition assistance. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. The Strong Buy consensus rating shows 11 Buys versus 1 Hold. Ultium - Wikipedia By: Li . Ultium Cells's latest funding round was a Loan for $2,500M on July 26, 2022. Ultium Cells Lansing Delta Township facility in Michigan is under construction and will start production in late 2024. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. Ultium Cells LLC Announces Plans to Pr | Ultium Cells LLC For more information about LG Energy Solution, please visit https://www.lgensol.com. "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. The addition of a second Ultium Cells battery cell manufacturing plant will mark an important milestone in GM's push for an electric future. GM and LG Energy Solution Investing $2.6 Billion to Build 3rd Ultium Cells Manufacturing Plant in Lansing Recent news which mentions Ultium Cells. LG Energy Solution will employ its decades-long experience in battery technology and manufacturing to produce quality products as we demonstrate our reputation as an industry leader delivering unparalleled consumer value.. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. The General Motors Analyst:Adam Jonas maintained an Overweight rating for General Motors, while raising the price target from $43 to $46. 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. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. Written by 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 Ultium Cells LLC manufactures battery cells used in electric cars and other electric vehicles. Valuation. 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. 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. 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. 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. 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? Our temperature controlled environment will keep you comfortable all year long. Both factories will supply the automaker with the cells needed for . The strategic partnership should also affirm Tennessees stature as a key hub for electric vehicles and battery production. Marvell Shareholders Approve Acquisition Of Inphi Spring Hill, Tenn. Today, the Ultium Cells battery cell manufacturing plant in Spring Hill, Tennessee, celebrated a major milestone as construction on the 2.8 million-square-foot facility surpassed its one millionth construction hour. 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. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. 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. Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. In August this year, 85% of Ultium Cells workers signed. Copy and paste multiple symbols separated by spaces. Hiring is already underway as the Ultium Cells Spring Hill team continues to onboard key launch team members for the business. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Is this your business? 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. 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). Morgan Stanley Raises General Motors Target On Ultium Valuation - Yahoo Altium Limited (ALU.AX) Stock Price, News, Quote & History - Yahoo Finance General Motors (NYSE:GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. View original content: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. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. This allows engineers to optimize battery energy storage and layout for each vehicle design. Employees can receive career related educational support annually. Sharon Wrobel for 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! TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. Technology Innovation My Watchlist. GM And LG To Invest $2.3B In Tennessee Manufacturing Plant Type a symbol or company name. Construction has started with ground prep activities for the future site of the Ultium battery cell manufacturing facility in Lordstown. Stock Market | Stock Quote - Fat Pitch Financials Ultium Cells, a joint venture of LG Energy Solution and General Motors, today announced a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. Peridot Acquisition : Li-Cycle and Ultium Cells LLC Announce Agreement Revenue. Gallagher added, We appreciate the support the state of Tennessee, Maury County and Spring Hill has shown Ultium Cells, and that support is playing an important role in making this expansion investment possible in our Spring Hill facility.. 10 Biggest Price Target Changes For Tuesday. 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. Sign up for notifications from Insider! Create your Watchlist to save your favorite quotes on Nasdaq.com. 7/26/2022. LORDSTOWN, Ohio - GM continues to advance toward an all-electric, zero-emissions future with the construction of its nearly 3 million-square-foot Ultium Cells LLC battery cell manufacturing facility in Lordstown. Tags News Storage Ultium Cells. Jonas has an $80 price target on GM, implying 36.2% upside potential to current levels. 0. General Motors scores a strong 8 out of 10 on the TipRanks Smart Score ranking system, implying that it is well-positioned to outperform the overall market averages. General Motors : Ultium Cells LLC Seeking 1,100 Team Members to Help The new plant is likely to be a similar-size investment, the WSJ said. Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. [19] [20] Specifications [ edit] Access your favorite topics in a personalized feed while you're on the go. GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. Did you know we are landfill free? AON Board Increases Quarterly Dividend By 11% $2,500M. 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. See General Motors stock analysis on TipRanks, Marvell Shareholders Approve Acquisition Of Inphi, AON Board Increases Quarterly Dividend By 11%, IBM Acquires myInvenio To Enhance Business Processes Automation, Do Not Sell My Personal Information (CA Residents Only). Automakers aiming to compete in the growing electric-car market want to secure a steady supply of batteries. The analystadded that General Motors story is bigger than Ultium and much bigger than the near-term stock price.. The first Ultium-powered model, expected to be out late in 2021, will be a GMC Hummer pickup, reborn as an EV with up to 1,000 horsepower. Ultium Cells LLC | LinkedIn WARREN, Ohio In honor of Breast Cancer Awareness Month, Ultium Cells teamed up with the Joanie Abdu Comprehensive Breast Care Center (JACBCC) in nearby Youngstown, Ohio, to spread awareness and raise money for Joanie's Promise, a program that ensures anyone in the community in need of diagnostic breast care services has access to the best care available regardless of their ability to pay. We call on the ingenuity of our people, the technology behind our ultium battery cell manufacturing and the strengths of LG Energy Solution and General Motors. 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. General Motors : Ultium Cells LLC Starts Ground Prep on New Electric Early conceptual rendering of Ultium Cells LLC battery cell manufacturing facility in Lansing, Michigan.