LG Energy Solution to Invest KRW 7.2 Trillion to Build Battery Manufacturing Complex in Arizona, Step Up EV and ESS Battery Production in North America
It marks the largest single investment ever for a stand-alone battery manufacturing facility in North America.
- It marks the largest single investment ever for a stand-alone battery manufacturing facility in North America.
- It is also more than four times the amount the company initially announced last year (KRW 1.7 trillion) to manufacture cylindrical EV batteries in the same location.
- The new cylindrical battery manufacturing facility aims to start mass production of 2170 cells in 2025, mainly for EV makers in North America.
- With LG Energy Solution Vertech, Inc.'s fully integrated energy storage solutions, LGES will further expand its presence in the entire ESS value chain.