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LG TO INVEST $4.5 BILLION IN ITS US BATTERY BUSINESS

AppleMagazine

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AppleMagazine #490

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.

LG TO INVEST $4.5 BILLION IN ITS US BATTERY BUSINESS

The Korean company, which has a joint venture with U.S. automaker General Motors, said the investment will help create 10,000 jobs, including subcontractors.

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. The companies hope to have a decision on a second site in the first half of the year.

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CHINA'S NEW FIVE-YEAR PLAN PULLS BACK SUPPORT FOR ELECTRIC VEHICLES AFTER SUBSIDY-DRIVEN EXPANSION

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APPLE'S PATH TO $4 TRILLION: HOW IPHONE SALES REIGNITED ITS LONG-TERM MARKET ASCENT

Apple has reached a US $4 trillion market capitalization, a landmark built not on a single breakthrough but on almost two decades of steady expansion anchored by the iPhone.

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APPLE PLANS MAJOR OLED EXPANSION FOR FUTURE IPAD AND MACBOOK MODELS

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Elon Musk’s latest digital project, Grokipedia, experienced a full system outage within hours of its launch this week after its servers were overwhelmed by traffic and database activity.

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