General Motors and its battery partner are building a new factory in Ohio as the carmaker prepares to reveal 22 new electrified vehicles by 2023 (GM)

General Motors and LG Chem have named their joint venture “Ultium Cells LLC.” “Ultium” is the name that GM revealed earlier this year when the car company announced its battery technology. The new factory is a $2.3-billion plant being built in Ohio, near a factory that was controversially closed in 2019. Visit Business Insider’s homepage for more stories.

General Motors and LG Chem are doing preparatory construction on a new, $2.3 billion factory in Ohio.

The companies made the announcement on Tuesday and said that the new, 50-50 joint venture would be called “Ultium Cells LLC.” Earlier