General Motors is set to manufacture low-cost lithium-iron phosphate (LFP) batteries in the U.S. at its Spring Hill, Tennessee, facility. The next-gen Chevy Bolt EV and a Silverado EV trim will utilize these batteries. LFP batteries offer a cheaper alternative to nickel-manganese-cobalt (NMC) cells. Lower battery costs are crucial for making electric vehicles more affordable, and GM's plans reflect its commitment to increasing electric vehicle sales. Despite challenges such as the expiration of federal tax credits, GM's electric vehicle offerings are breaking sales records and increasing its market share against competitors like Tesla.
General Motors and LG Energy Solution will produce low-cost lithium-iron phosphate (LFP) batteries in the U.S. to support electric vehicle production.
LFP batteries are a more affordable alternative to NMC cells, reducing overall EV costs, with GM planning to incorporate them in several upcoming electric vehicle models.
The Spring Hill, Tennessee factory will be upgraded for LFP battery assembly, reflecting GM's commitment to expanding electric vehicle offerings and increasing market competitiveness.
Despite regulatory challenges and the expiration of federal tax credits, GM continues to innovate and expand its electric vehicle lineup, aiming to capture more of the market.
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