This is the real head to head competition between GM and Tesla Motors. Tesla has announced before that Model III will have 200 miles range and $35k price tag. Is GM really getting serious about electric Cars now? Reading the LG Chem Lithium Megafactory article will give you the idea about the long term strategic planning behind this move.
With LG Chem supplying the batteries I can see the next move that GM will try to fight Tesla's market share in the largest auto-market in the world in China. It is the great news for all electric cars and lithium technology industry! This technological advance coupled with announced by China "The War on Pollution" will bring the real mass market for electric cars in a few years time.
Bill Williams puts all the nonsense about Electric Cars being more dangerous than with Internal Combustion engines vehicles to rest.
China is already the top lithium materials producer and now LG Chem will put it solidly on the lithium battery map. LG Chem plans are very ambitious - company plans to produce 100k batteries per year! Tesla Gigafactory rightfully attracts a lot of attention and LG Chem move will find its investment audience as well. All this production of batteries will need the secure supply of lithium.
"Tesla Model III will be the game changer for the mass market for electric cars. Particularly for China it can be the only way forward in order to be able to increase the amounts of cars on its roads without chocking on the very dangerous level of air pollution, which is already causing serious problems for the country. Read more."
China Rolls Out Welcome Mat for Electric Cars: Ganfeng Lithium Partners with International Lithium in Argentina and Ireland.
"According to the World Bank, air pollution costs China as much as $300-billion a year in health problems and productivity losses.In response, the Chinese central government just announced a slate of pro-electric car policies, including slashing charging station rates by 30%. Navigant Research predicts that global lithium ion battery sales will increase 400% by 2023. Read more."
GM plans a $30,000 electric vehicle called the Chevrolet Bolt capable of driving 200 miles on a charge by 2017