Massive battery factory could be a game changer for the Tesla Challenger
Before Detroit’s automakers can switch to electric vehicles, they must have batteries to put in them.
So a big announcement on October 27 will likely be a key to the transition.
Lear Corp. (MEADOW) will build an $80 million manufacturing plant to supply battery disconnectors to General Motors’ (GM) electric SUVs and trucks based on the full-size Ultium platform.
Lear, which makes car seats and power distribution systems, said it will supply battery disconnects on all SUVs and full-size trucks built on the manufacturer’s Ultium EV Platform. car exports by 2030, Lear said October 27.
Lear said it is working with state and local officials on a plan to open a new manufacturing facility in Michigan with an expected investment of more than $80 million.
The site, which will manufacture BDUs and other electrified components, is expected to generate $500 million in annual electrification revenue when it reaches full production, Lear said.
The deal also expands Lear’s existing business with GM and represents the largest electrified platform win for Lear’s E-Systems division..
“Lear is developing innovative technologies that are driving the widespread adoption of electric vehicles,” Ray Scott, president and chief executive officer, said in a statement.
“This additional new business with GM is made possible by Lear’s recognized value proposition in electrification, which combines flexible manufacturing operations and advanced automation technology in the manufacturing industry,” he said. Industry 4.0 with our vertical integration,” he said.
On October 25, GM posted stronger than expected third-quarter earnings on Tuesday, while echoing a full-year profit outlook, as higher car prices helped record fuel sales for the largest U.S. automaker.
“We are delivering on our commitments and affirming our full-year guidance despite a challenging environment as demand continues to grow strongly for GM and GM products,” said CEO Mary Barra. We are actively managing the difficulties we face,” CEO Mary Barra said in her quarterly letter to investors.
Last year, GM said it would stop selling vehicles with internal combustion engines and would Go fully electric by 2035