General Motors (NYSE: GM) is working on selecting a site for a second battery factory in the U.S., according to a Wall Street Journal report today. Though a final decision hasn't been made, GM and South Korean joint venture partner LG Chem are close to choosing Tennessee as the location. GM and LG Chem started construction on an initial battery cell plant in Lordstown, Ohio, last year and are hiring workers for the factory, which is expected to begin production next year. The two companies invested $2.3 billion for the Ohio factory, which will supply GM's Ultium battery cell program. The company plans to power its all-electric Cadillac Lyriq and other vehicles, including the GMC Hummer EV, with the Ultium platform. GMC Hummer EV for Chip Ganassi racing team. Image source: General Motors. The second battery factory in Tennessee will be a comparably sized investment to the Ohio plant, according to the Journal report. GM has committed to $27 billion in electric-vehicle (EV) investments through 2025. It plans to launch 30 new EVs worldwide by the end of 2025. GM says its Ultium platform will be capable of a range of up to 450 miles and will be used for EV models of various sizes and price levels. In its goal to become carbon neutral by 2040, GM plans to phase out gasoline- and diesel-powered light-duty vehicles, only producing electric models by 2035. 10 stocks we like better than General MotorsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and General Motors wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source