Ultium Cells, a GM-LG joint venture, is upgrading its Spring Hill, TN facility to produce low-cost LFP battery cells for EVs, avoiding expensive minerals like cobalt and nickel. GM has 12 EVs in its lineup with prices ranging from $35,000 to over $300,000. Commercial production of LFP cells is expected to start by late 2027. GM is also working on new battery technology for larger electric vehicles and has invested $900 million in battery development labs in Michigan. CEO Mary Barra previously stated GM’s goal of exclusively offering EVs by 2035, with a $35 billion investment between 2020 and 2025.

Read more at CNBC: GM, LG to upgrade Tennessee plant to make low-cost EV batteries