LG Energy Solution has announced recently plans to invest more than $4.5bn (KRW5tn) by the end of 2025 to expand its battery production in the U.S.(Logo quoted from LG Energy Solution’s official website)

The company has started discussions with General Motors to build a joint venture cell production plant in the U.S.The proposed plant will produce electric vehicle cells using advanced technology. These include pouch cell batteries for use in electric vehicles and energy storage systems, as well as cylindrical cell electric vehicle batteries.

LG currently operates the Green Field Project. It set the project up over the last year in order to get a foothold in the battery and electric vehicle market. When completed, the project will give the company a total production capacity of over 110GWh in the U.S.

The investment will create more than 10,000 jobs for LG and subcontractors, while securing an additional 70GWh production capacity in the U.S.

In 2019, LG Energy Solution entered into a joint venture with GM to construct a $2.3bn battery plant in Ohio, with an annual use capacity of 35GWh. This plant will finish construction in 2022. The company will select at least two location candidates within the first half of this year for its factory to manufacture different battery types in the U.S.

(IRuniverse)

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