LG Energy Solutions will invest $4.5B in U.S. battery production to meet growing electric vehicle demand. The investment, which will span four years, will include building at least two new plants and create 4,000 new jobs.
- Denise Gray, president of the company's Michigan unit, said the investment will grow U.S. battery production capacity by an extra 70GWh.
- The company will choose plant locations in the first half of 2021, and according to Gray, their construction will create 6,000 indirect jobs.
- LG and General Motors are on the verge of completing a cell manufacturing plant in Ohio. They're in discussions to build a second plant in Tennessee, with a production capacity of around 35GWh.
- LG is looking to build battery cells for Tesla in 2023.
- In the U.S., LG has accused rival battery maker SK Innovation of stealing its trade secrets.
- Last month, the U.S. International Trade Commission blocked most imports of SK lithium-ion batteries for 10 years.