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LG TO INVEST $4.5 BILLION IN ITS US BATTERY BUSINESS
AppleMagazine
|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.
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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.
This story is from the AppleMagazine #490 edition of AppleMagazine.
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