GM, Korea’s LG Chem in venture to build factory in Ohio

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FILE – This Friday, May 16 2014, file photo, shows the General Motors logo at the company’s world headquarters in Detroit. (AP Photo/Paul Sancya, File)

General Motors and Korea’s LG Chem have formed a joint venture to build an electric vehicle battery cell factory near Lordstown, Ohio, east of Cleveland.

The companies also will work together on battery technology to bring down the cost. The new plant will create more than 1,100 jobs in the area around Lordstown.

The joint venture plans to invest $2.3 billion in the operations.

They’ll break ground on the new plant sometime next year, but the exact location wasn’t disclosed.

The companies made the announcement Thursday at GM’s technical center in Warren, Michigan, north of Detroit.

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