LG Energy Solution to build second joint venture plant in U.S.

LG Energy Solution and General Motors held an event on Friday to announce the construction of a second joint venture rechargeable battery plant for electric vehicles in the U.S.

Attendants of the event at the state museum in Nashville, Tennessee in the U.S. included GM Chairwoman Mary Barra, Tennessee Governor Bill Lee, and LG Energy Solution President Kim Jong-hyun. The two companies will reportedly invest 2.7 trillion won (approx. 2.4 billion U.S. dollars) in their second joint venture plant through the joint venture, Ultium Cells.

The second joint venture plant will be built in Springhill, Tennessee. Following groundbreaking within the year, the plant is expected to start mass production in earnest in the second half of 2023 and will have the capacity to roll out batteries amounting to at least 35GWh by the first half of 2024. The plant will create about 13,000 jobs in total.


Hyoun-Soo Kim kimhs@donga.com