DETROIT—General Motors Co. and LG Chem Ltd. will invest a combined $2.3 billion to mass produce battery cells in northeastern Ohio, near its former Lordstown assembly plant.
A 50-50 joint venture between GM and the South Korean battery maker aims to create 1,100 jobs. GM and LG Chem plan to start building the plant in mid-2020 on a greenfield manufacturing site.
With the investment, GM expects to reduce the cost of making electric vehicles, and said it plans to introduce 20 EVs globally by 2023.