LG Energy Solution to make 16 GWh of LFP batteries for ESS in Arizona
- LG Energy Solution will certainly construct a battery manufacturing complex in Queen Creek, Arizona, that will certainly make cylindrical batteries for EVs and also lithium-iron phosphate (LFP) pouch batteries for energy storage systems.
The Korean company will certainly spend $5.5 billion right into the two manufacturing facilities-- $3.2 billion for the EV batteries and also $2.3 billion for the LFP batteries. The EV battery manufacturing facility must have an annually capacity of 27 GWh, while the energy storage battery manufacturing facility ought to reach 16 GWh.
" Our decision to buy Arizona shows our calculated campaign to continue increasing our worldwide production network, which is already the largest worldwide, to additional breakthrough our ingenious and also top-quality products in scale and with rate," claimed Youngsoo Kwon, CEO of LG Energy Solution. "Our team believe it's the right action at the correct time in order to empower clean energy change in the united state"
The new cylindrical battery production facility aims to start mass production of 2170 cells in 2025, mainly for EV makers in North America. The new manufacturing facility for LFP pouch-type batteries aims to start production in 2026.
LG Energy Solution was previously called LG Chem and also makes the popular RESU line of energy storage space systems.