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Stock Market News

LG Energy Solutions invests in battery manufacturing

12/19/2022

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2022.12.19 02:03

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LG Energy Solution to invest $3.1 billion in S.Korea battery facility
LG Energy Solutions invests in battery manufacturing

Budrigannews.com – From this year to 2026, LG Energy Solution, a South Korean manufacturer of batteries, intends to invest 4 trillion won (3.1 billion USD) in a facility that will produce cylindrical batteries for electric vehicles.

The company said in a statement that the project in Ochang, South Korea, will include R&D and production facilities as well as related infrastructure. It is anticipated that the project will add 1,800 employees.

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