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Ultium Cells — a joint venture between General Motors and LG Energy Solution — is upgrading its Spring Hill, Tennessee, facility to make low-cost EV battery cells.
The batteries could be significantly cheaper than those used in other vehicles because they do not require expensive minerals like cobalt and nickel.

Ultium Cells Spring Hill, TN. September 2022.
Courtesy: Ultium Cells LLC

Ultium Cells, a joint venture between General Motors and LG Energy Solution, said Monday it’s upgrading its facility in Spring Hill, Tennessee, to make low-cost electric vehicle battery cells.
GM said the lithium iron phosphate battery cells — abbreviated LFP based on the elements’ chemical symbols — could be significantly cheaper than battery packs used in some EVs, in part because they don’t require expensive minerals like cobalt and nickel that are used in standard lithium-ion batteries.

“This upgrade at Spring Hill will enable us to scale production of lower-cost LFP cell technologies in the U.S., complementing our high-nickel and future lithium manganese rich solutions and further diversifying our growing EV portfolio,” Kurt Kelty, vice president of batteries, propulsion and sustainability at GM, said in a release.
GM has 12 EVs in its lineup, spanning a price range of roughly $35,000 to more than $300,000.
The Detroit automaker teamed up with LG to invest $2.3 billion in the Tennessee battery plant when it was announced in 2021. The companies said Monday’s announcement builds on the partnership, but did not disclose an additional dollar amount for the upgrade.
Ultium said it expects commercial production of the LFP cells to begin by late 2027.
The announcement comes as GM has been working on a separate type of new battery technology for its largest electric SUVs and trucks. Different EV battery chemistries impact everything from the range and safety of EVs to energy efficiency and charging capabilities, among other needs.

GM also said Monday that it has invested $900 million for new battery development labs in Michigan.
The same year that GM and LG announced their investment in Tennessee, GM CEO Mary Barra said GM would exclusively offer EVs by 2035. At the time, she said the company would invest $35 billion between 2020 and 2025 on the effort, but GM has since said customer demand — which has been slower than expected — will dictate its EV plans, and it has not disclosed its total EV investment thus far.

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The new federal spending bill might help boost sales of private jets, as owners take advantage of faster write-offs of the purchase price.
The tax benefit, which revives a provision of the 2017 tax cuts, only applies to business jets, not jets used for personal use.
The private jet industry has seen a slowdown in growth from its feverish pitch in 2020 and 2021.

Private jets parked at the Friedman Memorial Airport during the Allen & Company Sun Valley Conference on July 10, 2025 in Sun Valley, Idaho.
Kevin Dietsch | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
The new federal spending bill is expected to boost sales of private jets, as owners take advantage of faster write-offs of the purchase price.

Jet brokers and advisors said they’ve seen a burst of activity from clients who were holding off on purchases until the bill was signed. Among its many new tax provisions is the reinstatement of “bonus depreciation,” which allows businesses to immediately write off 100% of the purchase price of capital equipment, including private jets.
Individuals, who typically own a jet through their private business or holding company, can now write off the entire cost of a new or used jet in the first year of ownership for any plane placed into service in or after Jan. 19, 2025.
The tax benefit only applies to business jets, not jets used for personal use. It revives a provision of the 2017 tax cuts and replaces the current phased-out depreciation percentages of 60% in 2024 and 40% in 2025.
“We’ve had a number of owners who were looking to upgrade and have been waiting for this,” said Barry Shevlin, CEO of FlyUSA, the aviation solutions company. “And I have at least a half-dozen others who are looking to buy after this was passed.”

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The tax stimulus comes at just the right time for the private jet industry, which has seen a slowdown in growth from its feverish pitch in 2020 and 2021. The industry saw a surge in new owners, charter fliers and fractional owners after Covid, but many of the wealthy who bought planes then for the first time have started selling them or moving to fractional ownership due to higher-than expected maintenance and pilot costs.

The number of pre-owned business jets for sale increased to an average monthly rate of over 1,800 in the first half, according to JetNet. That’s up from 1,744 in the first half of 2024. The average time on market has also increased, to 418 days from 386 days, the data firm said.
“During Covid, a lot of the people who bought planes didn’t know what they were getting into,” Shevlin said. “They were shocked by what it cost and what it involved.”
Philip Rushton, founder and president of Aviatrade, said there are now around 23 to 25 Gulfstream G650ERs on the market, which is slightly higher than usual.
“It’s certainly normalized after Covid,” he said.
The big rush to buy private jets, however, may not start until the fall. Brokers said private jet purchases typically spike at the end of the year, when companies and individuals are finalizing their tax bills.
Matt Walter, managing partner at Guardian Jet, said the ultra-wealthy won’t decide to buy a plane just because of a tax change. “But it certainly helps that decision,” he said. “If you planned to upgrade your plane in 12 months, maybe you do it in six months instead.”
He said he’s advising clients to buy before September but sell after September, because demand will likely surge in the fall.
“You want to buy before it gets crazy,” he said. “After September, you’re going to be competing with other buyers and also competing for inspection slots. In a heated market, everyone is going to be trying to do the same thing and trying to find inspection slots.” More

Jams is rolling out frozen peanut butter and jelly sandwiches at 3,000 Walmart stores nationwide.
Founder Connor Blakley said he hopes to take on Smucker’s Uncrustables and appeal to health-conscious consumers by offering things like more protein.
The company aims to appeal to athletes and is backed by U.S. soccer legend Alex Morgan and NFL Pro Bowlers C.J. Stroud and Micah Parsons.

Connor Blakley Jams founder

The classic peanut butter and jelly sandwich is getting a modern day upgrade and backing from some top athletes.
Jams, a new company created by 26-year-old Connor Blakley, launched Monday and hopes to take on Smucker’s Uncrustables as the next locker room and lunch box staple. Like Uncrustables, the sandwiches fall in the frozen foods category.

Backed by names like U.S. soccer legend Alex Morgan and NFL Pro Bowlers C.J. Stroud and Micah Parsons, Jams will be available exclusively at 3,000 Walmart stores nationwide.
Uncrustables has dominated the market with a near PB&J monopoly, but Blakley is hoping to differentiate his products by appealing to health-conscious consumers.
“No. 1 is it’s no seed oils,” he said. “We have no dyes, no artificial flavors or colors, no high fructose corn syrup, and we have the most protein per ounce of any peanut butter and jelly that’s currently on the market.”
Smucker’s parent company J.M. Smucker, late last month said it would remove synthetic food colors from all of its consumer food products by the end of 2027. 
Jams is a slightly larger product than the Smuckers option, at a weight of 74 grams versus Uncrustables’ 58 grams. Blakley also said his product has a lower total sugar content, and each sandwich contains 10 grams of protein.

Walmart also stocks Uncrustables at a $4.34 price point. Jams will cost slightly more at $5.97 per box.
Jams will initially be available in two flavors: strawberry and a mixed berry option.
The entrepreneur, who dropped out of high school when he was 17, said he has taste-tested more than 250 iterations of PB&J sandwiches in the process of developing Jams. The sandwiches are manufactured in Ohio and Wisconsin.
But Blakley has a steep hill to climb.
In its most recent earnings call in June, J.M. Smucker said it is on track to generate over a billion dollars in net sales by the end of fiscal 2026 from Uncrustables, noting that they are the No. 1 product in the the total frozen category.
To support the rising demand, Smucker’s recently opened its third and largest Uncrustables manufacturing facility in McCalla, Alabama.
Blakley said he believes the key market for his sandwiches will be athletes.
NFL teams consume more than 80,000 Uncrustables per year as a growing number of teams and athletes look for a fast, convenient and filling snack, according to a 2024 report by The Athletic.
“Athletes want to get the best possible products to fuel their body and lifestyle,” Blakley said.
He attributed the success of the peanut butter and jelly sandwich to two things: nostalgia and ease.
“I think convenience is really, really a big part of why this category has and will continue to take off,” he said. More

Late in 2023 Jensen Huang, chief executive of Nvidia, began peddling a new idea. Every country, he said, should have its own artificial-intelligence (AI) system, trained on domestic data, aligned with national values and built using local infrastructure. Appealing to policymakers’ fondness for manufacturing, the boss of the chip colossus described these systems as “AI factories”, ingesting data and churning out intelligence. He called it “sovereign AI”. More

Late in 2023 Jensen Huang, chief executive of Nvidia, began peddling a new idea. Every country, he said, should have its own artificial-intelligence (AI) system, trained on domestic data, aligned with national values and built using local infrastructure. Appealing to policymakers’ fondness for manufacturing, the boss of the chip colossus described these systems as “AI factories”, ingesting data and churning out intelligence. He called it “sovereign AI”. More

Warner Bros.’ “Superman” generated $122 million in domestic ticket sales during its opening weekend.
Internationally, “Superman” took in $95 million in ticket sales, bringing its estimated global opening to $217 million.
The film is the first theatrical release from new co-heads of DC Studios James Gunn and Peter Safran.

David Corenswet stars are Superman in Warner Bros.’ “Superman.”
Warner Bros. Discovery

“Superman” soared into theaters this weekend, snapping up an estimated $122 million in domestic ticket sales and launching a new era of DC superhero flicks.
The film marks the first theatrical debut of James Gunn and Peter Safran since they became co-heads of Warner Bros. Discovery’s DC Comics film and TV unit in late 2022. The pair has developed a 10-year plan to reinvigorate the studio’s franchises across TV and film, including fresh spins on Superman and Batman.

“The road to success for DC has been a circuitous one over the years and now under the auspices of James Gunn and Peter Safran, the impressive opening weekend performance of ‘Superman’ allows DC Studios to hit the reset and chart a new course with this film providing the spark to ignite future success for the storied brand,” said Paul Dergarabedian, senior media analyst at Comscore.
The domestic haul of “Superman” ranks as the best performance of a solo-billed Superman film ever, outpacing 2013’s “Superman: Man of Steel,” which took in $116 million during its first three days in theaters, according to Comscore data.
Only four DC films have performed better during their first three days in theaters — “Batman v. Superman” opened to $166 million, “The Dark Knight Rises” captured $160 million, “The Dark Knight” brought in $158.4 million and “The Batman” tallied $134 million.
“Superman is fulfilling its promise as another welcome hit for the summer box office, while also serving as an effective launch pad for James Gunn’s new era of DC Studios,” said Shawn Robbins, director of analytics at Fandango and founder of Box Office Theory.
Internationally, “Superman” generated $95 million in ticket sales, bringing its estimated global opening to $217 million.
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal owns Fandango. More

Warner Bros.’ “Superman” generated $22.5 million in Thursday night preview sales.
It’s the third-best Thursday performance of superhero flick under the DC banner ever and the best for a Superman film.
“Superman” is expected to tally between $130 million and $140 million at the box office during its full three-day opening weekend.

David Corenswet stars are Superman in Warner Bros.’ “Superman.”
Warner Bros. Discovery

It’s not a bird or a plane that soared into cinemas Thursday night — it was Warner Bros.’ “Superman.”
The first film in the new era of DC films under James Gunn and Peter Safran snared $22.5 million from preview showings.

It’s the third-best Thursday performance for a superhero flick under the DC banner ever, just behind “The Dark Knight Rises,” which secured $30.6 million in 2012, and “Batman v. Superman: Dawn of Justice,” which tallied $27.7 million on its first Thursday in 2016, according to data from Comscore.
It’s also the best preview numbers for a Superman film ever. “Superman: Man of Steel” secured just $9 million in Thursday night preview tickets in 2013.
“‘With great power comes great responsibility’ may be the mantra of Spider-Man, but Peter Safran and James Gunn have a similar charge and therefore the stakes are incredibly high for the new ‘Superman’ movie to deliver superhero style box office numbers over what will be a highly scrutinized summer movie weekend,” said Paul Dergarabedian, senior media analyst at Comscore.
“Superman” is expected to tally between $130 million and $140 million at the box office during its full three-day opening weekend. “Man of Steel” generated $116 million during its opening weekend more than a decade ago.
That range is also on par with the 2022 release of Matt Reeves’ “The Batman,” which took in $134 million. Only three DC films have performed better during their first three days in theaters — “Batman v. Superman” opened to $166 million, “The Dark Knight Rises” captured $160 million and “The Dark Knight” brought in $158.4 million.

“Premium screens will undoubtedly be a major draw for James Gunn’s hopeful superhero spectacle, and if families turn out to introduce today’s younger generation of kids to Superman, we’ll be looking up to box office staying power through the rest of summer,” said Shawn Robbins, director of analytics at Fandango and founder of Box Office Theory.

Rachel Brosnahan and David Corenswet star as Lois Lane and Superman in Warner Bros.’ “Superman.”
Warner Bros. Discovery

That would be a good sign for the new era of DC under Gunn and Safran.
The pair took over as co-heads of Warner Bros. Discovery’s DC Comics film and TV unit in late 2022. Since taking the reins for DC Studios they have developed a 10-year plan to reinvigorate its franchises across TV and film, including fresh spins on Superman and Batman.
Both executives have experience with the superhero genre and have brought heroes from Disney’s Marvel Cinematic Universe and DC Universe to the big and small screens, including “Guardians of the Galaxy,” “The Suicide Squad” and “Peacemaker.”
While several television projects have already debuted on WBD’s streaming service HBO Max, “Superman” is the first theatrical project to come to fruition from Gunn and Safran.
Critics seem on board with the reboot, as the film currently holds an 83% “Fresh” rating from more than 300 reviews on Rotten Tomatoes.
“It’s the start of a new era for DC characters and the return of thematically hopeful stories within that canvas,” said Robbins. “Superman is the perfect archetype to usher in this reboot despite the fact that every iteration of the character has faced headwinds in meeting fan demand while simultaneously courting broader audiences. This film is no different in that regard, but it certainly represents a tonal shift from the brooding era of DC films over the previous decade-plus.”
Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal owns Fandango and Rotten Tomatoes. More

The Food and Drug Administration will consider drug affordability when granting companies new vouchers that speed up approvals of some treatments, the agency’s Commissioner Marty Makary told CNBC.
The FDA in June announced a new national priority voucher plan that aims to cut drug review times to one-to-two months for companies it says are supporting “U.S. national interests,” but previous announcements did not explicitly mention making drugs more affordable as a criterion.
But it is unclear how the Trump administration will consider affordability when reviewing a drug, as prices for a product’s launch are usually determined after an approval in the U.S.

The Food and Drug Administration will consider drug affordability when granting companies new vouchers that speed up approvals of some treatments, the agency’s Commissioner Marty Makary told CNBC on Friday. 
The FDA in June announced a national priority voucher plan that aims to cut drug review times to one-to-two months for companies it says are supporting “U.S. national interests.” But previous announcements on the voucher program did not explicitly mention making drugs more affordable as a criterion. 

“We are including the affordability of drugs as a national priority,” Makary told CNBC.
Lowering drug prices is a key goal of the Trump administration, which is facing a tough balancing act as it threatens to impose up to 200% tariffs on pharmaceuticals imported into the U.S. in a bid to reshore drug manufacturing.

Commissioner of the Food and Drugs Administration Marty Makary speaks at a news conference on removing synthetic dyes from America’s food supply, at the Health and Human Services Headquarters in Washington, DC on April 22, 2025.
Nathan Posner | Anadolu | Getty Images

Makary added that President Donald Trump is “very adamant that he would lower drug prices for Americans, and he doesn’t like it that Americans are getting ripped off with drugs that are two, five, 10 times higher” in the U.S. compared to other developed countries.
But it is unclear how the Trump administration will consider affordability when reviewing a drug, as prices for a product’s launch are usually determined after an approval in the U.S.
The FDA’s website currently outlines four examples of “national priorities” that will be used to determine which companies will get a voucher under the new program. That includes addressing a health crisis in the U.S., delivering “more innovative cures” to Americans, addressing unmet public health needs and “increasing domestic drug manufacturing as a national security issue.” 

Drug affordability may have been included previously, according to a Wall Street Journal report in June. 
A spokesperson for the Department of Health and Human Services confirmed that the FDA will consider drug affordability for the program, adding the criteria aren’t limited to earlier examples.
When asked to provide examples of a health crisis that companies can meet with their drugs, Makary said he wants to see a cure for Type 1 diabetes, more treatments for neurodegenerative diseases and a universal flu shot “so we don’t have to try to guess which strain is coming.” 
He also said he wants to see more treatments for stage 4 cancer, or when the disease has spread from its original site to distant parts of the body. 
“We have a committee that’s set up that will determine which products and companies will get these vouchers as part of a pilot,” Makary said. “But we’ve got to try new things. We’ve got to ask ourselves, why does it take so long to come to market? And we want to see more cures and meaningful treatments for Americans.”
The FDA will give out new vouchers this year. After a one-year pilot phase, the agency may increase the number of quick approvals it gives to companies.
Some Wall Street analysts have previously said the voucher program could be more effective than tariffs at encouraging drugmakers to bring their manufacturing to the U.S. 
But questions remain about the risks of speeding up drug reviews to as little as 30 days, which is the fastest the FDA has ever done.
Another potential concern is whether the FDA will offer vouchers to political allies of the Trump administration, which could include companies that agency staff would normally scrutinize.  More