General Motors Company (NYSE:GM) UBS Global Industrials and Transportation Conference Call December 4, 2024 11:20 AM ET
Company Participants
Paul Jacobson – Executive Vice President and Chief Financial Officer
Conference Call Participants
Joseph Spak – UBS
Joseph Spak
Thank you very much. Joe Spak, auto analyst here at UBS. Very pleased to have with us General Motors, Paul Jacobson, Executive Vice President and CFO of GM. Paul, I know a bunch of news out the past couple of days and you want to make some opening comments so let’s start there and then we’ll dive into the Q&A.
Paul Jacobson
Yes. Sure. Thanks, Joe, and thanks, everybody, for being here and for tuning in on the webcast. I have a couple of announcements this week. I knew we were going to be here today and wanted to make sure that we had a chance to talk through those and provide a little bit of color.
Talk about the first one, which came out on Monday, the news about the Ultium Cells Site 3 with LG. We reached a deal to essentially sell our interest in that plant back to them. As we talked about at Investor Day, we currently with our two pouch plants in Lordstown and Spring Hill.
Lordstown running about 80% capacity, Spring Hill running about 40% and ramping up. We felt we were very good with pouch capacity and we’ve been talking with LG for a few months, I would say about their capacity needs, our capacity needs as well as our shared interest in prismatic cans, which Kurt Kelty spent a lot of time talking about it at Investor Day.
So this is a really good opportunity to really keep talking about be agile as we go through EV adoption and see what’s coming up as
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