Mar 13 2021
In the United States, LG Energy Solution Going to Invest 4.5 Billion For EV Battery Production In 2025
LG Energy Solutions said Thursday that it plans to invest more than $ 4.5 billion in the US battery production business through 2025 and add 4,000 jobs as it considers building at least two factories in the US. LG said the investment would add an additional 70GWh to US battery production capacity LG and automaker General Motors have committed to making a $ 2.3 billion investment in a joint venture battery plant in Ohio. which will build GM's new Utium battery for future electric vehicles. The factory is currently under construction. LG is a supplier of Tesla batteries for vehicles made in China together with China Contemporary Amperex Technology Co. Limited (CATL), while Panasonic Japan manufactures batteries in a joint venture with Tesla for vehicles made in the United States, which are exported throughout the world. world. . CATL has a separate supply agreement with the German automaker BMW.