General Motors and LG Chem are joining forces to invest $2.3 billion in a new battery plant near its old Lordstown Assembly complex in Lordstown, Ohio.  The deal is a 50/50 partnership between GM and LG Chem and will create 1,100 jobs in the area. 

Construction of the plant will begin mid-2020 at a greenfield former manufacturing site. The employees will work for the joint-venture and will not be direct GM employees. Initially, the plant will solely supply batteries for GM vehicles, though with a maximum capacity of 30 gigawatt-hours annually, the company could expand to supply other manufacturers as well.

GM and LG Chem are forming this joint venture in an attempt to bring down the unit cost of batteries for future vehicles. The plant's capacity, once completed, will be among the largest in the world. 

General Motors has said it wants to introduce 20 electric vehicles globally by 2023. 

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Should help to bring down the costs as they protect the profits with bringing out the EV Trucks and SUVs.

Can not wait for a $120K Silverado EV crew cab.

3 minutes ago, balthazar said:

Can not wait for a $120K Silverado EV crew cab.

$120K?  That's what Elon Musk would charge an equivalent Tesla.  I figure about $80K for a Silverado EV Crew Cab.

Not seeing that. As [theoretically] more and more subsidizing IC vehicles go offline, the prices of EV vehicles will have to go UP, not down.
It's one thing to sell an EV sedan that has limited capabilities, but an EV Silverado wold have to compare to IC Silverados, so the battery packs would be considerable, not only to compare in range & cargo/towing, but also to overcome their own weight.

If a 'base SIlverado EV starts at $80K, sales are going to PLUMMET.

Larger than Musk's vaunted Tesla Gigafactory in Reno? 

GM and LG Chem have been partners for a while. They helped build the T shaped battery pack for the Volt/ELR. I heard about this a lot when with Blink Network EVSE here in PHX.