LG Energy Solutions will invest 5 trillion won to have a battery production capacity of 70GWh or more in the United States by 2025.
LG Energy Solutions announced on the 12th that it will also decide to invest in the second plant, a joint venture with GM, in the first half of the year.
When this investment is made, LG Energy Solutions is expected to have a total production capacity of 75GWh in addition to the existing Michigan plant (5GWh). LG Energy Solutions announced that it will enter the field of electric vehicle and ESS pouch batteries as well as the growing cylindrical battery field for electric vehicles. To this end, LG Energy Solutions decided to select at least two candidate sites in the first half of this year in the US.
Through this, the company predicted that it will be possible to create more than 10,000 new jobs, including 4,000 direct employees and 6,000 employees during the construction period of the factory.
In addition, Ultium Cells, a joint venture between LG Energy Solutions and GM, is constructing the first plant in Ohio with a scale of 35GWh, and the second plant is scheduled to determine the specific investment scale and site in the first half of the year. It will supply electric vehicle batteries to GM.
LG Energy Solutions aims to lead the eco-friendly industry by accelerating the conversion of electric vehicles according to the US Green New Deal.
Jong-Hyun Kim, President of LG Energy Solutions, said, “The US Green New Deal policy will further accelerate the growth of the electric vehicle market as well as the ESS market. We will build and contribute to the success of the US Green New Deal as the best partner in the US electric vehicle and ESS markets.
Byungwook Cho, reporter [email protected]
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