LG to open two battery plant in US with over $4.5 billion investment

LG Energy Solutions, which operates the world’s largest battery plant, is in the process of placing an equipment order (PO) for the third plant in Poland. Plant 3 will be set up near Wroclaw, where existing Plants 1 and 2 are operating. Currently, the battery production in Poland is 70-gigawatt hours (GWh) per year. The goal is to achieve 100GWh per year by adding 3 factories.

According to a recent report, senior executives of LG Energy Solution (LG), a battery manufacturing subsidiary of South Korea’s LG Chem, stated that the company plans to invest more than US$4.5 billion in the US battery production business in the next four years, including plans to build at least two new factories.

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Denise Gray, president of LG’s Michigan branch, claimed that the company’s investment will bring an additional 70GWh of US battery production capacity to cope with the rapid growth of the electric vehicle market.

 “We are eager to expand production capacity to meet the needs of many automakers in the United States and Europe. We are considering at least two new plants in the United States.”

Gray also stated that the planned investment will create 4,000 new jobs in the United States, more than twice its current the total number of employees. The company plans to select factory locations in the first half of this year, and the construction of these factories will also create about 6,000 indirect jobs.

The first battery manufacturing plant jointly built by LG and General Motors in Ohio is nearing completion, and the two sides are in in-depth negotiations to establish a second plant in Tennessee. LG said on Friday that the second plant will have a similar capacity of about 35GWh.