The South Korean battery specialist is said to put additional 9.4m dollars into its battery factory in Holland, Michigan, to complete the installation of a fifth production line by August 2018.
This step is due to raising EV demand. In Holland, LG Chem produces batteries for the Chevrolet Bolt, among others. Thanks to the fifth production line, production capacity shall climb to 3 GWh annually.
In September 2017, LG Chem already announced to invest further 387m dollars in its Polish factory in Wroclaw. The company opened this plant in 2016. Since its market entry in 2009, LG Chem has supplied batteries to global carmakers such as Audi and Renault-Nissan. In July 2017, we reported that LG Chem as well as Samsung seem to follow Panasonic in a move to upgrade their batteries.
Besides owning the above mentioned factories in the States and Poland, LG Chem operates also plants in China and South Korea.