Lithium Ion Battery Supplier Surges in Battery Race
At a plant in Holland, Michigan, LG Chem cranks out lithium ion batteries to power the Chevy Volt, Spark, Bolt and other EVs, at a furious pace. Two of the three assembly lines run 24×7, and a fourth production line is expected for a customer who has not yet been named. With all of this activity, LG Chem may very well surpass Tesla as the operator of North America’s first battery “gigafactory” (the name which Tesla uses in reference to the giant battery plant it is building in Nevada). LG Chem has quietly positioned its plant to become a market leader, with the potential to account for nearly a quarter of North America’s total EV battery production within a year. It is estimated that Chevy Bolt’s battery will cost around $145 per kilowatt-hour, which is an industry low. If that proves accurate when the Bolt enters production next year, LG Chem’s plant will surely attract additional customers, which will yet drive costs even lower. One thing is for certain: Chevy has turned out some well-regarded EVs in recent years, with no signs of stopping. Swing by Gregg Young Chevrolet in Norwalk, and test drive the Volt today, or request updates on the Bolt’s availability.
Gregg Young Chevrolet of Norwalk
2501 Sunset Drive
Norwalk, Iowa 50211