LG Energy has announced that by the end of 2025, it will invest more than $4.5 billion in its US-based business to increase its battery production capacity by 70 GWh.
LG and GM are currently discussing plans to build a second joint venture plant in the US, which is expected to have a production capacity similar to the two companies’ first plant in Ohio, and is set to manufacture next-generation EV cells.
“LG Energy Solution is dedicated to expanding its battery production capacity and structuring a stable, localized supply chain that provides everything from R&D to production,” said CEO Jong Hyun Kim.
The new LG facility will produce pouch cell batteries for EVs and energy storage systems, as well as cylindrical cell EV batteries.
Source: LG Energy