Search results for Ultium Cells
Industry
LG Energy Solution signs $1.6 billion ESS supply deal with DTE Energy
LG Energy Solution said on May 28 it signed a $1.6 billion energy storage system supply contract with U.S. utility DTE Energy. Total supply volume is 6 GWh and deliveries will run for about two years. DTE Energy, Michigan’s largest power utility, plans to use the ESS for eight grid projects, including an Oracle AI data center in Salem Township. LG Energy Solution said production will center on its Holland, Michigan plant.
Industry
LG Energy Solution posts Q1 operating loss of 207.8 billion won, swings to red
LG Energy Solution posted a first-quarter operating loss of 207.8 billion won due to initial costs from expanding its North American energy storage system production base, and lower volumes of EV pouch products for a strategic customer. Revenue fell 2.5 percent from a year earlier to 6.56 trillion won but rose 1.2 percent from the previous quarter. The company said North American production incentives reflected in results totaled 189.8 billion won.
Industry
LG Energy Solution converts Tennessee plant to ESS production
LG Energy Solution has expanded its North American energy storage system (ESS) production base to 5 sites. Its joint venture with GM, Ultium Cells, will start producing lithium iron phosphate battery cells for ESS at its Spring Hill, Tennessee plant. The company will convert part of an existing EV battery line and begin full-scale mass production from the second quarter. ESS cells from the Tennessee plant will be supplied via LG’s North American SI unit Vertech.
