LG-GM Joint Venture to Build 2nd Battery Plant in U.S.
18 April, 2021
LG Energy Solution and U.S. carmaker GM will build another electric vehicle battery plant in Tennessee, their second in the U.S.
The two companies will pour some US$2.3 billion to build the plant through their jv Ultium Cells. It'll be similar in scale with their first one, which is being built in Ohio.
The two plants could have a combined twelve-monthly production capacity of 70 GWh, enough for 1 million high-performance electric cars.
The two companies have been discussing the project since this past year.
LG Energy Solution, which also manufactures EV batteries at its factory in Michigan, will invest W5 trillion by 2025 to build up production lines and hopes to provide batteries to automakers other than GM (US$1=W1,117).
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