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Why Ultium?
During the planning for the IEC, residents and community leaders have long sought the right fit for development. Priorities include a company with a strong track record in the communities where they have facilities, a company is a responsible manufacturer, a proven community partner, and a company with a focus on environmental stewardship and sustainability. We believe we’ve found a great fit with Ultium Cells
Ultium is a joint venture between General Motors and LG Energy Solutions. General Motors is the largest automaker in the United States and the second largest automaker in the world. Their partner, LG, is one of the largest technology companies in the world and a leader in developing Advanced Automotive Battery, Mobility & IT Battery, and ESS Battery enterprises. Some additional information about the partners:
- General Motors, headquartered in Detroit MI, is a company with global scale and capabilities. Ranked 25th on the 2022 Fortune Global 500 list, with 2021 annual revenues of $127 billion, GM employs 157,000 employees worldwide and 91,000 in the United States. GM is transitioning to an all-electric future by 2035, spearheading technological advancements to align with its mission of Zero, Zero, Zero. Zero crashes, Zero emissions, and Zero congestion.
- GM has been a part of Indiana for over 80 years and has invested more than $2.1 billion in Indiana facilities since 2009. GM currently employs more than 6,000 Hoosiers at its four manufacturing facilities - Bedford Castings, Fort Wayne Assembly, Kokomo Components, and Marion Metal Center. Furthermore, GM has 124 dealerships across Indiana. GM anticipates in 2022 it will spend more than $2.6 billion with its 272 suppliers throughout the state. In 2021 alone, GM employees earned $507.4 million in annual taxable wages in 2021.
- LG Energy Solution (LGES) employs 27,623 globally, 9,004 in the United States and 18,619 oversees. In 2021, LGES sales were $15.6 billion. LG Energy Solution accounts for more than 20% of the global eclectic vehicle battery market. LG Energy Solution began lithium-ion battery research in 1992 for land, sea, air, and space applications. LGES supplies 13 of the top 20 global automotive brands including General Motors, Ford, and Stellantis. In addition, LGES is a supplier of battery-powered spacesuits for NASA, provides lightweight, high-powered drone batteries and is a supplier of world’s first eco-friendly hybrid cruise ship. In 2012, the company opened it’s first U.S. manufacturing facility in Holland, MI. In 2022, LGES announced a large investment to expand the Holland facility, adding 1,200 jobs bringing total employment to 2,695 workers.
- Many consumers are familiar with the LG brand, likely from the work LG Electronics Inc., a division of LG Corp. Many know the products they make such as TV’s, Monitors, PCs, Refrigerators, Washing Machines, Dishwashers, vacuum cleaners, air conditioners and dehumidifiers. LG Electronics has been around since 1958. In 2020, the company employed more than 75,000 employees and did more than $50 billion in sales.
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