[TechWeb] July 11 news, according to foreign media reports, people familiar with the matter said that South Korean electric vehicle battery manufacturer LG Chem (LG Chem) is considering building a second battery factory in the United States to accelerate production capacity to meet global rapid growth Demand.
LG Chemical is considering investing 2 trillion won ($1.7 billion) to build the plant, which could go into production in 2022, a person familiar with the matter said. Candidates for sites include Kentucky and Tennessee.
Another person familiar with the matter said that LG Chem is expected to make a decision on the factory address by the end of this month.
According to people familiar with the matter, LG Chem's new plant will supply Volvo and Fiat Chrysler, and may also supply Hyundai, General Motors and Volkswagen.
LG Chemical responded to foreign media that the company is considering options to meet global customer orders, but has no specific plans.
LG Chem was founded on April 1, 2001. Business scope: basic materials business, battery business, information electronic materials business, life science business field, etc. LG is the largest shareholder of LG Chem.