Friday, 24 March, 2023

LG energy invests $1.4B to increase battery production

<p>LG energy has announced that they will be investing $1.4B to build a new first-of-its-kind cylindrical battery plant in Arizona to increase battery production in the US. LG energy is the battery supplier for big EV car makers like Tesla, Lucid motors, General Motors, and Proterra. Previously LG had said that they will be spending $2.1B together with General Motors to build a joint battery plant in an attempt to increase their presence in the US.</p>