- LG Energy Solution has announced plans to invest over $4.5 billion over the next four years in energy storage production.
- LG also plans to construct a joint venture plant with General Motors (GM)
LG Energy Solution has announced plans to invest over $4.5 billion over the next four years as it looks to increase its battery production capacity in the United States by 70 GWh. This expansion will increase the company’s total production capacity to over 110 GWh in the U.S.
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LG is also in discussions with car manufacturer General Motors (GM) to construct a joint venture plant in the United States. LG Energy Solution had invested $600 million to build a 5 GWh capacity plant in Michigan in 2012.
It formed a joint venture with GM in 2019 to build a $2.3 billion battery plant in Ohio scheduled to be completed in 2022. The plant will have a yearly production capacity of 35 GWh. The new plant being proposed will produce pouch cell batteries for electric vehicles and energy storage systems, and cylindrical cell EV batteries.