Mary Barra, the General Motors boss, is steering GM deeper into the electric car market bill pugliano/Getty ImagesGeneral Motors is set to build one of the world’s biggest electric vehicle battery factories in a $2.3 billion joint venture with a South Korean chemicals company. The partnership with LG Chem initially will make batteries for an all-electric pick-up truck that is due to enter production late in 2021. The battery factory will be built near GM’s recently closed assembly plant in Lordstown, Ohio. Construction of the facility, which will employ about 1,100 people, will begin in mid-2020, the companies said. Traditional carmakers are stepping up their electric vehicle capabilities in response to the threat posed by Tesla, the world’s largest electric carmaker, and in anticipation of booming sales in China, which aims to take all petrol and diesel cars off its roads.

Source: The Times December 06, 2019 00:00 UTC