ultium cells llc stock symbol

With shares up 25% so far this year, the average analyst price target of $63.67 suggests additional 23% upside potential lies ahead over the coming year. Ultium Cells Lansing Delta Township facility in Michigan is under construction and will start production in late 2024. Tags News Storage Ultium Cells. GM shares have ballooned 76% over the past six months, as the automaker presented investors with a strategic update on its electric vehicle (EV) vision, which includes more than $20 billion investment over the next 5 years. Sources. GM ( GM) said that via the Ultium Cells LLC joint venture with LG Energy, the car marker is "exploring the feasibility of constructing a second state-of-the-art battery cell plant." A. (C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE. LORDSTOWN, Ohio -- Ultium Cells LLC is the name of the General Motors and LG Chem joint venture for cell manufacturing. For more information about LG Energy Solution, please visit https://www.lgensol.com. Lithium cells can produce voltages from around 1.5V (comparable to a zinc-carbon or alkaline battery) to around 3.7V, depending on the design and chemical compounds that were used in the. SPRING HILL, Tenn. Ultium Cells today welcomed U.S. Treasury Secretary Janet Yellen to its battery cell manufacturing facility under construction in Spring Hill. Date. Earlier this year, GM unveiled its new Ultium battery technology, intended to power 22 new electrified vehicles by 2023. The 2.8-million square foot Ultium Cells LLC plant is the first of at . TipRanks->. All rights reserved. Jonas believes that for General Motors to capitalize on the opportunity, it will need to develop its ability to attract and retain capital and people. This new investment is in addition to the $2.3 billion investment announced in April 2021. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Holden, Baojun and Wuling brands. . An average analyst price target of $68.15 implies 16.08% upside potential to current levels. But we understand that it's what's on the inside that counts, with our batteries and our people. 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). Copyright 2023 Surperformance. Home to the world's first EV battery lineup, we provide the best battery solutions for EVs worldwide. During the pandemic, product development work on GM's future EV and AV portfolios continues to progress at a rapid pace. 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. "The Cruise Origin was revealed in San Francisco earlier this year, and production timing remains on track for the yet-to-be-revealed Cadillac Lyriq and GMC HUMMER EV, all powered by the Ultium battery system.". The facility will be located in Spring Hill, Tennessee. 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. DOE closes $2.5B loan for Ultium Cells battery production. . LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. 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. To learn more about LG Energy Solution's ideas and innovations, visithttps://news.lgensol.com. [18] Battery materials will be supplied by LG Chem and POSCO Chemical (cathode active materials) and Livent (lithium hydroxide). The new factory is located near the old Lordstown plant, and GM has said that it will be staffed with UAW workers and create 1,100 new jobs. GM Price Action: Shares of General Motors were trading at around $30.15 at the time of publication. This allows engineers to optimize battery energy storage and layout for each vehicle design. In 2010, the company built its first U.S battery plant in Holland, Michigan. Ditch the brown bag and enjoy lunch in the charging station. Employees can receive career related educational support annually. U.S. Department of Energy LP 101000 Independence Avenue, SWWashington D.C. 20585, New Factories in Ohio, Tennessee, and Michigan Will Create More than 11,000 Good-Paying Jobs and Reduce the Nations Reliance on Other Countries to Meet Increased Demand for Electric Vehicle Technologies, Today the Department of Energys Loan Programs Office (LPO) announced a conditional commitment to Ultium Cells LLC for a $2.5 billion loan to help finance the construction of new lithium-ion (Li-ion) battery cell manufacturing facilities in OH, TN, MI. Ultium Cells team is comprised of some of the finest minds in the automotive and electronics industries, but we are looking for more of those rare individuals. Stock Quote Recent Quotes. Type a symbol or company name. Revenue. Buoyed by the move to construct the new battery cell plant, Morgan Stanleys analyst Adam Jonas reiterated a Buy rating on the stock. 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. 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. International. The General. DOE estimates the battery cells manufactured by these facilities could reduce gasoline use by 480 million gallons per year. Ultium batteries are unique in the industry because the large-format, pouch-style cells can be stacked vertically or horizontally inside the battery pack. By: Li . Technology Innovation While some investors view Ultium as copying Tesla Inc (NASDAQ:TSLA), there seems to be only one mission for General Motors to grow. He added, however, that there are several risks around the company generating credit for its battery capacity. General Motors, its subsidiaries and its joint venture entities sell vehicles under theChevrolet,Buick,GMC,Cadillac,Baojun andWulingbrands. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Your browser does not support the video tag. GM's proprietary Ultium battery technology is at the heart of the company's strategy to compete for nearly every EV customer in the marketplace, whether they are looking for affordable transportation, luxury vehicles, work trucks, commercial trucks or high-performance machines. We are looking for talented individuals with diverse skills, experiences, and a can-do spirit to grow with us in Warren, Ohio,Spring Hill, Tennessee, and Lansing, Michigan. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Loan. * Approximate amount of the loan facility approved at closing including principal and any capitalized interest. On TipRanks' Smart Score system ranking, GM gets a 7 out of 10, which implies that the stock is likely to perform in line with market averages. Ultium Cells is focused on the future of the transportation industry and its impact on the world, both culturally and environmentally. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. Lieutenant Governor Jon Husted and JobsOhio President JP Nauseef accompanied the tour. Recent news which mentions Ultium Cells. Morgan Stanley analyst Adam Jonas last month maintained a Buy rating on the stock with a $80 price target (54% upside potential) following recent talks with investors, which point to a rising interest in what he calls "the individual 'hidden gems' within" GMs technology and services portfolio, including scalable technologies in electric, connected and autonomous vehicle end markets. 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. Valuation. LG Energy Solution is a global leading battery maker providing the best solutions within the energy sector for a better world. Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, has announced that it will mass-produce Ultium battery cells to advance the push for a zero-emissions, all-electric future. 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. Shares declined 1.9% in Thursdays after-market trading. Jonas listed Cadillac, Corvette, OnStar, China JVs, GM Hydrotec, GM Financial, Ultium EV batteries and Cruise robotaxis among the businesses, which he named the arms of the "GM SPACtopus." 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. More information on the company and its subsidiaries, includingOnStar, a global leader in vehicle safety and security services, can be found athttps://www.gm.com. U.S. Department of Energy. General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio. Is this your business? Once operational, the facility will supply battery cells to GM's Spring Hill assembly plant. Construction on the approximately 2.8 million-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. Ultium Cells LLC, a joint venture of LG Energy Solution and General Motors, today announced a more than $2.3 billion investment to build its second battery cell manufacturing plant in the. Health Care Benefits start day one! Ultium Cells LLC - Spring Hill, Tennessee plant in brief: General Motors and LG Chem joint venture (50/50) manufacturing of lithium-ion battery cells for electric vehicles; The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. Type a symbol or company name. 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. 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. Additional $275 million investment and 400 more jobs for Spring Hill, Tennessee battery cell plant will increase battery cell production by more than 40 percent to 50 gigawatt-hours, Production at the 2.8 million-square-foot facility will begin in late 2023. Type a symbol or company name. Last Updated December 2022. Since May, Ultium Cells has broken ground and poured concrete footings at its new Lansing, Michigan site. Tesla operates a large Gigafactory in Nevada, manufacturing the thousands of cells that go into its vehicles, in partnership with Panasonic. GM and LG Energy Solution are investing $2.3 billion in the joint venture to support EV manufacturing in the U.S. , and in turn, local jobs, education, career training and infrastructure. The facility will be located in Lansing, Michigan. The value of Ultium Cells LLC, which is a joint venture between General Motors and South Korean chemical firm LG Chem, is estimated at $20 billion, according to Morgan Stanley. The facility will supply battery cells to GMs Spring Hill assembly plant for production of the Cadillac LYRIQ and other GM Ultium Platform-based EVs. IBM Acquires myInvenio To Enhance Business Processes Automation. With a 30-year history in the battery business, LG Energy Solution has made consistent, large-scale investments to accumulate enough stability, credibility and manufacturing experience to invent its own cutting-edge technologies. General Motors shares are up about 41% year to date after a 13.58% pop in 2020. The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called "Ultium Cells LLC." The Ultium Cells facility in Warren, Ohio began battery cell production in August and continues to accelerate production volume. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V., Hyundai Motor Group, and Honda Motor Co., Ltd. At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. Our temperature controlled environment will keep you comfortable all year long. 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?

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