LG Energy Solution, GM to build $2.1 billion battery factory in U.S

📆 1/25/2022 3:18 PM
📰 ChannelNewsAsia

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SEOUL : South Korea's LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle (EV) battery plant, parent firm LG Chem said on Tuesday. LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture, for what

SEOUL : South Korea's LG Energy Solution plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle battery plant, parent firm LG Chem said on Tuesday.

LGES commands more than 20per cent of the global electric vehicle battery market and supplies Tesla Inc, Volkswagen AG and Hyundai Motor Co, among others.

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