LG Energy Solution said that it plans to invest more than $4.5 billion over the next four years to expand its battery production capacity in the United States by 70 GWh. The expansion will give the company a total production capacity of more than 110 GWh in the U.S. market.
In addition to a new battery facility, the company and automaker GM are discussing plans to build a second joint venture plant in the United States.
LG Energy Solution invested $600 million to build a 5 GWh capacity plant in Michigan in 2012. Two years ago, it formed a joint venture with GM to build a $2.3 billion battery plant in Ohio. That facility is set for completion in 2022 and will have an annual production capacity of 35 GWh.
The latest proposed plant will produce pouch cell batteries for electric vehicles and energy storage systems, as well as cylindrical cell EV batteries. The company said it will select two candidate sites for the new plant later this year before making its final pick.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
3 comments
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.