Together, General Motors and LG Chem believe they'll crack the code on affordable, efficient batteries for GM's upcoming roster of electric vehicles.
Last year, GM and LG Chem announced a joint venture to build proprietary batteries, called Ultium, at a new plant in Ohio. The companies broke ground on the facility in April.
"Designing the battery system and the motors in house and having strong manufacturing partners enables us to do a whole vehicle system optimization," said Kent Helfrich, executive director of global electrification and battery systems. "Having a better understanding about how the batteries are made, and then afterwards how they are used in the vehicle … we think that in the long run, this is absolutely critical to having a superior vehicle."
The Ultium battery, which GM and LG Chem will manufacture through a $2.3 billion joint venture, will allow for a range of up to 400 miles on a full charge — about 50 percent more than the 259-mile range for the 2020 Chevrolet Bolt.
The battery will power vehicles across GM's future EV portfolio, which includes a large sedan, crossovers, SUVs and pickups. GM will also help develop two electric vehicles for Honda powered by the Ultium batteries. Honda will design the interior and exterior of the vehicles, which are expected to go on sale in the 2024 model year in the U.S. and Canada.