LG Energy Solution says it will invest more than $4.5 billion in its U.S. battery production business by 2025 as automakers ramp up production of electric vehicles.
(AP Photo/Lee Jin-man, File)NEW YORK – LG Energy Solution will invest more than $4.5 billion in U.S. battery production by 2025 as more automakers commit to churning electric vehicles sooner than anyone had expected.
GM and LG are currently building a $2.3 billion battery factory in Lordstown, Ohio, near Cleveland, that will employ about 1,000 people when it is completed in 2022.
The site is fairly close to GM’s two other designated electric vehicle plants, one in Detroit and the other north of the city in Orion Township, Michigan.
”LG Energy Solution is dedicated to expanding its battery production capacity and structuring a stable, localized supply chain that provides everything from R&D to production."