[GM and LG to Upgrade Tennessee Factory for Low-Cost EV Battery Production] GM and LG Energy Solution's joint venture, Ultium Cells, announced on Monday that it would upgrade the Spring Hill factory in Tennessee for the production of low-cost EV batteries. GM stated that the cost of these LFP batteries could be significantly lower than that of existing EV battery packs, partly because they do not require expensive minerals like cobalt and nickel, which are needed for standard lithium-ion batteries.