LG to invest in US battery production for EVs, energy storage

LG Energy Solution said that it plans to invest more than $4.5 billion over the next four years to expand its battery production capacity in the United States by 70 GWh. The expansion will give the company a total production capacity of more than 110 GWh in the U.S. market.

In addition to a new battery facility, the company and automaker GM are discussing plans to build a second joint venture plant in the United States.

LG Energy Solution invested $600 million to build a 5 GWh capacity plant in Michigan in 2012. Two years ago, it formed a joint venture with GM to build a $2.3 billion battery plant in Ohio. That facility is set for completion in 2022 and will have an annual production capacity of 35 GWh.

The latest proposed plant will produce pouch cell batteries for electric vehicles and energy storage systems, as well as cylindrical cell EV batteries. The company said it will select two candidate sites for the new plant later this year before making its final pick.