GM Will Repay Ohio $28 Million In Tax Incentives

[mahatmakanejeeves]

Last edited Tue Sep 29, 2020, 03:56 PM - Edit history (1)

Source: Jalopnik

GM Will Repay Ohio $28 Million In Tax Incentives

Erik Shilling
25 minutes ago • Filed to: GM

There were two GM-related press releases issued and an unscheduled event at the White House on Monday. One press release was from GM. The other, more interesting press release was from the Ohio Development Services Agency. The White House event was, uh, we’ll get to that. ... I invite you first to read part of GM’s press release:

General Motors announced today plans to invest $71 million into two Ohio manufacturing facilities, including $39 million at its Toledo transmission plant and $32 million at its Defiance casting plant. Work will begin immediately at the two locations. These investments will enable GM to retain 240 good-paying U.S. manufacturing jobs.

GM also was sure to mention Lordstown:

Since 2009, GM has invested more than $3.3 billion in Ohio. Separately, GM and LG Chem formed a joint venture – Ultium Cells LLC – and together are investing more than $2.3 billion to build a new, state-of-the-art battery cell manufacturing plant in Lordstown that will create more than 1,100 new jobs. Construction of the facility is underway. The new battery cell manufacturing plant will play a critical role in GM’s commitment to an all-electric future.

[...]

In addition, GM has continued its commitment to the Lordstown community by working closely with Lordstown Motors Corp. since May 2019 to support the launch of its Endurance pickup. The acquisition of Lordstown Motors by DiamondPeak Holdings Corp. is expected to close during the fourth quarter and the company will be listed on the Nasdaq. GM is investing $75 million in the company, which includes the sale of the former Lordstown Assembly plant and production equipment.

{snip}

[...]

Read more: https://jalopnik.com/gm-will-repay-ohio-28-million-in-tax-incentives-1845208796

[iluvtennis]

1. Great news about the construction of plant for manufature of cells for electric batteries! Go green

technology.

[marble falls]

2. Rare earth metals mining hasn't been exactly green. But if it helps get rid of coal and petroleum ..

dependence, its definitely the lesser evil of the three environmentally.

[iluvtennis]

3. quote from article says the paln will be for battery cells....

GM and LG Chem formed a joint venture – Ultium Cells LLC – and together are investing more than $2.3 billion to build a new, state-of-the-art battery cell manufacturing plant in Lordstown that will create more than 1,100 new jobs

No reference to earth metals mining - what I am missing. please clarify. thanks.

[greenjar_01]

4. The batteries are made of nickel, cobalt, and magnesium, I believe

Those are mined somewhere, and cobalt mining in particular is nasty business, both environmentally and politically. That said, I stand with the prior poster that it's probably the lesser of three evils. I think the point is that battery production is not cost-free, environmentally.

[iluvtennis]

5. Ok, thanks for clarifying - mcu appreciated. nt

[Yeehah]

9. Aaaaand the electricity has to come from somewhere

61 percent of the USA's electricity comes from fossil fuels.

[marble falls]

6. It doesn't mention anything about what will make up the cells, but I'm not aware of any ...

battery/motor/controller system that doesn't use rare earth metals - do you? Lithium mining has been troublesome, too.

https://en.wikipedia.org/wiki/Lithium

Lithium (from Greek: ?ί???, romanized: lithos, lit. 'stone') is a chemical element with the symbol Li and atomic number 3. It is a soft, silvery-white alkali metal. Under standard conditions, it is the lightest metal and the lightest solid element. Like all alkali metals, lithium is highly reactive and flammable, and must be stored in mineral oil. When cut, it exhibits a metallic luster, but moist air corrodes it quickly to a dull silvery gray, then black tarnish. It never occurs freely in nature, but only in (usually ionic) compounds, such as pegmatitic minerals, which were once the main source of lithium. Due to its solubility as an ion, it is present in ocean water and is commonly obtained from brines. Lithium metal is isolated electrolytically from a mixture of lithium chloride and potassium chloride.


Over the years opinions have been differing about potential growth. A 2008 study concluded that "realistically achievable lithium carbonate production would be sufficient for only a small fraction of future PHEV and EV global market requirements", that "demand from the portable electronics sector will absorb much of the planned production increases in the next decade", and that "mass production of lithium carbonate is not environmentally sound, it will cause irreparable ecological damage to ecosystems that should be protected and that LiIon propulsion is incompatible with the notion of the 'Green Car'".[58]

Some jurisdictions limit the sale of lithium batteries, which are the most readily available source of lithium for ordinary consumers. Lithium can be used to reduce pseudoephedrine and ephedrine to methamphetamine in the Birch reduction method, which employs solutions of alkali metals dissolved in anhydrous ammonia.[166][167]

Carriage and shipment of some kinds of lithium batteries may be prohibited aboard certain types of transportation (particularly aircraft) because of the ability of most types of lithium batteries to fully discharge very rapidly when short-circuited, leading to overheating and possible explosion in a process called thermal runaway. Most consumer lithium batteries have built-in thermal overload protection to prevent this type of incident, or are otherwise designed to limit short-circuit currents. Internal shorts from manufacturing defect or physical damage can lead to spontaneous thermal runaway.[168][169]



https://www.nationaldefensemagazine.org/articles/2020/8/11/bold-action-needed-to-solve-rare-earth-problem


https://earth.org/rare-earth-mining-has-devastated-chinas-environment/

https://www.aei.org/op-eds/ending-chinas-chokehold-on-rare-earth-minerals/

[iluvtennis]

7. thanks for the reply back and add'l info - much appreciated. nt

[marble falls]

8. We educate each other. I'm more informed every single time I'm here. DU makes me a more ...

informed voter.