- LG Energy Solutions plans to invest $5.5 billion to build a battery storage manufacturing plant.
- The factory would have the capacity to manufacture 27 GWh of cylindrical batteries.
LG Energy Solutions plans to invest $5.5 billion to build a battery storage manufacturing plant in Arizona that the company said would be the largest in North America.
Once completed, the factory would have the capacity to manufacture 27 GWh of cylindrical batteries for electric vehicles and 16 GWh of lithium-iron phosphate batteries for energy storage systems. The two verticals are expected to begin production in 2025 and 2026.
The facility, consisting of two manufacturing plants, will be built in Queen Creek, southeast of Phoenix. Adding a manufacturing line for standalone energy storage should be welcome news to energy storage developers, who are constantly competing with the EV market for battery supplies.