Sales of electric vehicles (EVs), particularly plug-in hybrids and full battery electrics, are growing faster than expected, according to a study released earlier this year by the Boston Consulting Group.

The electrification of automotive powertrains has accelerated as the world's automakers come to the realization that traditional ICE (internal combustion engine) vehicles can no longer keep pace with stringent global emissions requirements, especially those in Europe.

DETROIT—General Motors and LG Chem will form a joint venture company to mass-produce batteries for electric vehicles. Together, the companies will invest up to $2.3 billion in the company, which will establish an assembly plant on a greenfield site in the Lordstown area of Northeast Ohio. The project is expected to create more than 1,100 new jobs.

BENNINGTON, VT—Battery company Energizer says it is closing a manufacturing facility in Vermont at the beginning of 2021 and moving it to a plant in Portage, WI, that was previously owned by Rayovac but purchased by Energizer from Spectrum Brands early last year.