GM, LG Chem to invest $2.3B in Ohio venture, creating 1,100 new jobs

General Motors and South Korean battery producer LG Chem will invest $2.3 billion in an equally owned joint venture that will employ more than 1,000 people in the Lordstown area, the automaker said Thursday.

The two companies will make break ground at a greenfield site next year for the new plant, creating 1,100 new jobs.

“We are so honored to be part of this announcement today,” Mary Barra, GM chief executive and chairman, said.

“LG Chem is taking a step closer to achieving its vision in the field of batteries,” LG Chem CEO H.C. Shin said in a press conference, adding: “The great journey has begun.”

GM is still on track to have 20 electric vehicles in its inventory by the year 2023, Barra said.

Barra said that in the future, the announcement will be seen as a milestone moment for the auto industry.

“I absolutely believe this is a critical point,” Barra said.

Last year, GM closed its Lordstown Chevrolet Cruze assembly plant. Asked if employees laid off from Lordstown would enjoy a preference in applying for jobs at the new joint venture, Barra said all of those employees were offered other jobs with GM across the country.

“Clearly, we want to tap into the great workforce that is in Ohio,” Barra said.

Workhorse Group’s Lordstown Motors has purchased the Lordstown assembly plant to build electric trucks.

Workhorse is based in the Loveland area.

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