Autos

US automakers look to a battery-powered future, but forge their own paths

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A General Motors Co. Chevrolet Volt electric vehicle on display at the Seoul Motor Show in Goyang, South Korea, on Thursday, March 28, 2019.

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DETROIT – After years of skepticism about the potential demand for electric vehicles – and their long-term profitability – the domestic auto manufacturers have increasingly come to accept that battery power will underlie the industry’s long-term future.

General Motors said Thursday it will team up with Korean supplier LG Chem to build a new $2.3 billion battery plant in Lordstown, Ohio, a joint venture that will help power at least 20 all-electric vehicles the Motown manufacturer plans to have in production by 2023.

Thursday’s…



Source cnbc.com

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