Batteries

GM to create 1,100 Ohio jobs with huge new battery factory

GM and Korea's LG Chem announced a $2.3 billion joint venture on Thursday to mass-produce battery cells for electric vehicles in Ohio, creating 1,100 new jobs.

Why it matters: The new battery plant could likely employ many of the 1,200 auto workers who lost their jobs when GM shut its Lordstown car assembly plant in March. And it's a further sign of GM's commitment to an electric car future.

Volvo using blockchain to trace cobalt supply for electric vehicle batteries

A logo of Swedish multinational manufacturing company Volvo.
Photo: Karol Serewis/SOPA Images/LightRocket via Getty Images

Volvo says it's working with suppliers to bring "global traceability" of cobalt used in EV batteries through the use of blockchain technology.

Why it matters: Cobalt is a key material in batteries, but its extraction — largely in the Democratic Republic of the Congo — is linked to human rights abuses and dangerous conditions.