- Hanwha Group and LG Energy Solution announced they would invest in building battery production facilities in the United States.
- Hanwha Momentum will seek to supply critical battery manufacturing facilities for LGES, which is constructing joint battery factories with global automakers such as GM, Stellantis and Honda.
Hanwha Group and LG Energy Solution announced they would invest in building battery production facilities in the United States. The joint investment will pave the way for Hanwha to lead the rapidly-growing energy storage market and future Urban Air Mobility business. The two companies signed a memorandum of understanding in Seoul for comprehensive battery business cooperation for ESS and other clean-tech energy solutions. The MOU was signed by LGES and three subsidiaries under Hanwha Group – Hanwha Solutions, owner of clean energy manufacturer Qcells, Hanwha Corporation/Momentum and Hanwha Aerospace.
Under the MOU, the two sides will form a task force to work out plans for the partnership, including building a stable battery supply chain for Hanwha Q Cells’ ESS production in the United States and developing related ESS solutions, such as heat management and other balance of systems. Hanwha Momentum will provide battery manufacturing solutions to the battery producer.
Hanwha Momentum will seek to supply key battery manufacturing facilities for LGES, which is constructing joint battery factories with global automakers such as GM, Stellantis and Honda. Its factories in Korea, Poland and Michigan are also scheduled to expand. Hanwha Aerospace is also planning to work with LGES to develop special-purpose batteries for Urban Air Mobility. Hanwha Group stated, “We have decided to collaborate with LG Energy Solution, which has several large-scale manufacturing facilities being constructed in U.S., to target the U.S. ESS market boasting fast growth thanks to green energy policies. We aim to maximize synergy at home and abroad by promoting partnerships in various fields, such as supplying battery manufacturing equipment and developing special-purpose batteries.”
