General Motors and LG Energy to build $2.3B EV battery manufacturing plant

April 21, 2021

General Motors (GM +0.5%) announces a more than $2.3B investment to build its second battery cell manufacturing plant in the U.S. through a joint venture partnership with LG Energy Solutions.

As expected, the facility will be located in Spring Hill, Tennessee.

The Ultium Cells JV will build the new plant on land leased from GM. Construction on the approximately 2.8M-square-foot facility will begin immediately, and the plant is scheduled to open in late 2023. The facility will supply battery cells to GM's Spring Hill assembly plant after it is up and running.

"The addition of our second all-new Ultium battery cell plant in the U.S. with our joint venture partner LG Energy Solution is another major step in our transition to an all-electric future," says GM CEO Mary Barra on the development.

The company says the state-of-the-art Spring Hill plant will use the most advanced and efficient battery cell manufacturing processes. The plant is said to be extremely flexible and able to adapt to ongoing advances in technology and materials.

Over the current book year the total revenue will be 138.47 billion USD (consensus estimates). This is quite more than 2020's revenue of 122.49 billion USD.

Historical revenues and results General Motors plus estimates 2020

The analysts expect for 2021 a net profit of 7.59 billion USD. According to most of the analysts the company will have a profit per share for this book year of 5.19 USD. With this the price/earnings-ratio is 10.75.

Per share the analysts expect a dividend of 73 cents per share. Thus the dividend yield equals 1.31 percent. The average dividend yield of the automobile producers equals an attractive2.75 percent.

Based on the current number of shares General Motors 's market capitalization equals 78.08 billion USD. The General Motors stock was the past 12 months quite volatile. Since last April the stock is even 163 percent higher. This year the stock price moved between 20 and 63 dollar.

Historical stock prices General Motors

At 16.33 the stock trades 0.88 percent higher at 55.77 USD.

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