Photo by H.Kashioka
South Korean EV battery manufacturer, LG Energy Solution (LGES) has announced a $1.4 billion investment plan to build an EV battery factory in Arizona to meet demand from U.S. based EV startups, including Tesla and Lucid Motors. LGES revealed it will start constructing the factory this year and expects to start production in 2024.
Meanwhile, LGES also signed a deal with EV manufacturer Stellantis to establish a battery production joint venture in Canada. Looking strong in the EV industry.