Facility will be in Lordstown, Ohio-area

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*FOR IMMEDIATE RELEASE:*
December 5, 2019 *MEDIA CONTACTS:*
GOV: Dan Tierney <[email protected]>: 614-644-0957
LT. GOV: Carolyn Cypret <[email protected]>: 614-995-1815
JOBSOHIO: Matt Englehart <[email protected]>: (614) 300-1152



*DeWine, Husted Announce 1,100 Jobs Coming to Northeast Ohio*

(COLUMBUS, Ohio) The General Motors Company (GM), in partnership with LG Chem, announced this morning they will create 1,100 new jobs in the Lordstown-area of Northeast Ohio in the coming years to staff a new facility. The plant will be focused on the mass production of battery cells for future battery-electric vehicles. Todays announcement represents an investment of up to $2.3 billion through the new, equally-owned joint venture company.

Ohio Lt. Governor Jon Husted traveled to Warren, Michigan this morning to be present for the signing of the deal between GM CEO Mary Barra and LG Chem CEO H.C. Shin. He was joined by J.P. Nauseef, JobsOhio President and Chief Investment Officer, and Dana Saucier, JobsOhio Vice President and Head of Economic Development. The Lt. Governor also participated in a press call on the announcement with the two CEOs from the facility in Warren.

In November 2018, GM announced a restructuring that resulted in the closure of their Lordstown, Ohio factory. Since then, the DeWine-Husted Administration, together with JobsOhio, has pressed General Motors to make a renewed commitment to the state.

GM has made clear that this technology will be a cornerstone for their business model moving forward. The company previously announced they will develop 20 electric models to sell worldwide by 2023.

It is great news for Ohio that GM and LG Chem are going to build a new electric battery facility here, said Ohio Governor Mike DeWine. Ohio is a major supplier state for the automotive industry, and the announcement that Ohio will be the location to manufacture next-generation electric batteries will mean more than 1,100 new jobs for Ohioans.

With electric vehicles changing automotive manufacturing, today's announcement is an important win for Ohio, because we are now positioned to play a larger role in the future of the automotive industry," said Lt. Governor Jon Husted. "After months of productive conversation, it was a proud moment to stand alongside General Motors and LG Chem today to officially announce this deal that will create a new generation of jobs for the people of Ohio."

The joint venture between GM and LG Chem will bring an advanced battery production facility to Ohio that will keep our state at the forefront of the automotive industry as it continues to evolve, said J.P. Nauseef, JobsOhio president and chief investment officer. This agreement shows confidence in Ohios automotive talent, and we are excited to work with GM and LG Chem as they move forward with this project that will bring new high-tech jobs and investment here. It not only reorganizes Ohios legacy in the automotive manufacturing, but indicates the beginning of our bright future in advanced battery production.

You can read the full, original announcement from General Motors below:

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GM LG Chem Header
General Motors and LG Chem Team Up to Advance Toward an All-Electric Future, Add Jobs in Ohio

* "Will create more than 1,100 new jobs in a new, Ohio-based facility"
* "Joint venture ""to drive cost per kilowatt hours to industry-leading levels"
* "New battery plant to have an annual capacity of more than 30 gigawatt hours with flexibility for expansion"
* "Companies enter joint agreement to develop advanced tech, lower cost batteries"

*DETROIT *General Motors (NYSE: GM) and LG Chem today announced plans to mass-produce battery cells for future battery-electric vehicles. Together, the companies will invest up to a total of $2.3 billion through a new, equally ownedjoint venture company.

The JV will establish a battery cell assembly plant on a greenfield manufacturing site in the Lordstown area of Northeast Ohio that will create more than 1,100 new jobs.

The state-of-the art plant will use the most advanced manufacturing processes all under one roof to produce cells efficiently, with little waste, and will benefit from strong economies of scale throughout the value chain. The plant will be extremely flexible and able to adapt to ongoing advances in technology and materials.

The collaboration also includes a joint development agreement that brings together two leaders in battery science to develop and produce advanced battery technologies, with the goal of reducing battery costs to industry-leading levels.

This announcement, along with the recent sale of GMs manufacturing complex in Lordstown, Ohio to Lordstown Motors Corp. for the production of battery-electric trucks, positions Northeast Ohio and the Mahoning Valley as a major hub for technology and electric vehicle manufacturing.

With this investment, Ohio and its highly capable workforce will play a key role in our journey toward a world with zero emissions, said GM Chairman and CEO Mary Barra. Combining our manufacturing expertise with LG Chems leading battery-cell technology will help accelerate our pursuit of an all-electric future. We look forward to collaborating with LG Chem on future cell technologies that will continue to improve the value we deliver to our customers.

In addition to vertically integrating the manufacturing of battery cells in the U.S., LG Chem will gain access to an experienced workforce. It will also benefit from a dedicated production stream of future EVs from GMs [ [link removed] ] next generation of battery-electric vehicles, including an all-new battery-electric truck coming in the fall of 2021.

Our joint venture with the No. 1 American automaker will further prepare us for the anticipated growth of the North American EV market, while giving us insights into the broader EV ecosystem, said LG Chem Vice Chairman & CEO Hak-Cheol Shin. Our long-standing history with General Motors has proven our collective expertise in this space, and we look forward to continuing this drive for zero emissions.

This investment builds on GMs $28 million investment [ [link removed] ] in its Warren, Michigan battery lab announced late last year. It is also in addition to manufacturing investments in Ohio announced earlier this year totaling approximately $700 million that will create about 450 jobs in Toledo, Parma and Brookville, Ohio.

Groundbreaking is expected to take place in mid-2020.

# # #

*General Motors* (NYSE:GM) is committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under theCadillac [ [link removed] ],Chevrolet [ [link removed] ], Baojun [ [link removed] ],Buick [ [link removed] ],GMC [ [link removed] ],Holden [ [link removed] ] andWuling [ [link removed] ] brands. More information on the company and its subsidiaries, includingOnStar [ [link removed] ], a global leader in vehicle safety and security services,Maven [ [link removed] ], its personal mobility brand, and Cruise [ [link removed] ], its autonomous vehicle company, can be found athttp://www.gm.com.

*LG Chem* is Koreas largest diversified chemical company which operates four main business portfolios: Petrochemicals, Energy Solutions, Advanced Materials and Life Sciences. The chemical business manufactures a wide range of petrochemical products from high-value added to commodity goods. LG Chem also extends its chemical expertise into high-tech areas such as lithium-ion batteries, industrial & automotive materials, drugs & vaccines to deliver broad range of differentiated solutions for our customers. Throughout multiple production facilities and extensive distribution network worldwide, LG Chem employs approximately 35,000 people and generated sales of KRW 28.2 trillion in 2018. For more information, please visit www.lgchem.com [ [link removed] ].

*CONTACTS*:

*G**eneral Motors:
*Tom Henderson
[email protected]
313-410-2704



*
*Jordana Strosberg
[email protected]
313-268-9656



*LG Chem:
*Won-Jae Yoo
[email protected]
82-10-4014-8827



**



*Cautionary Note on Forward Looking Statements.* This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on forward-looking statements. Statements including words such as anticipate, appears, approximately, believe, continue, could, designed, effect, estimate, evaluate, expect, forecast, goal, initiative, intend, may, objective, outlook, plan, potential, priorities, project, pursue, seek, should, target, when, will, would, or the negative of any of those words or similar expressions to identify forward-looking statements represent our current judgment about possible future events. In making these statements we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we consider appropriate under the circumstances. These statements are not guarantees of future performance; they involve risks and uncertainties and actual events or results may differ materially from these statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive and regulatory factors, many of which are beyond our control and are described in our Annual Report on Form 10-K for the year ended December 31, 2018, as well as additional factors we may describe from time to time in other filings with the U.S. Securities and Exchange Commission. We undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

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