U.S. Secretary of the Treasury Janet Yellen visited Spring Hill’s Ultium Cells battery plant on Wednesday afternoon on the heels of President Joe Biden’s second State of the Union address, in which he spoke of the U.S. “leading the world to a clean energy future.”
This, Biden said, is due to the Inflation Reduction Act, citing tax credits for electric vehicle purchases, a pledge to build 500,000 EV charging stations nationwide and a larger focus on addressing the impacts of climate change.
Ultium is a joint venture between General Motors and LG Energy Solution of South Korea, first announced as a $2.3 billion, 2.8 million-square-foot battery plant in 2021. GM builds the Cadillac Lyriq electric SUV at its Spring Hill facility.
In 2022, the company announced an additional $275 million investment expected to yield 400 additional jobs (for a total of 1,700), and the U.S. Department of Energy loaned Ultium Cells $2.5 billion to build the EV lithium batteries in facilities in Tennessee as well as Michigan and Ohio.
Ultium Cells Spring Hill Plant Director Chris Desautels speaks at the facility on Feb. 8, 2023, during a visit from U.S. Sect. of the Treasury Janet Yellen.
Ultium Cells Spring Hill Plant Director Chris Desautels introduced Yellen and said that the Spring Hill facility will help GM “power its aggressive EV strategy,” which includes a goal to “have the capacity of a million vehicles by mid-decade.”
“The good news is that new factories are being built all over the country, and not just here in Spring Hill, we are seeing a wave of investments in American manufacturing,” Yellen told the crowd of around three dozen workers and plant officials.
Yellen’s visit to Middle Tennessee also included a meeting with Nashville Mayor John Cooper and former Gov. Phil Bredesen.
Columbia Mayor Chaz Molder was the only local official in attendance at the Spring Hill event.
Ultium Cells workers and company officials gathered at the Spring Hill facility on Feb. 8, 2023.
Yellen said the Biden administration’s top priority is addressing inflation as part of a larger focus on domestic economic investments.
Yellen also described the Biden administration’s focus on “increasing our productive capacity, bolstering our economic resilience and creating a more inclusive economy,” saying that “the United States is uniquely positioned to capitalize on the future,” while adding that the “goal is to mitigate shocks.”
Her speech reiterated much of Biden’s State of the Union address, part of an administration-wide and nationwide public outreach campaign ahead of Biden’s anticipated re-election announcement for the 2024 presidential election..
“Over the next year, I suspect that you will see activity accelerate, more ideas turning into plans and plans into construction sites just like this one, and construction sites into bustling factories,” Yellen said. “And with it, I hope, a renewed sense of optimism about America's future.”
A version of this story ran in our sister publication Nashville Post.