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LG Chem constructs EV battery plant in China

LG Chem Ltd., South Korea's largest chemicals company, said Tuesday that it has completed the construction of a plant in China for electric vehicle batteries.

The plant in the eastern Chinese city of Nanjing will churn out over 50,000 battery units annually for dedicated electric vehicles and more than 180,000 units for plug-in hybrid electric vehicles, according to LG Chem.

The Chinese plant is LG Chem's third battery plant, following one in South Korea and another in the U.S. state of Michigan.

LG Chem has already signed deals to supply EV batteries to a slew of Chinese automakers, including Great Wall Motor Co. and Dongfeng Motor Corp.

The South Korean firm also forged a similar deal with China's No. 1 automaker, Changan Automobile Co.

LG Chem has been seeking to expand its EV battery business in China, eyeing growing demand on the back of Beijing's plans to tackle air pollution by introducing more eco-friendly cars.

Global carmakers have been rushing to introduce emission-free cars in the world's largest car market as Beijing earlier announced it will have 500,000 electric vehicles on the road by 2015 and 5 million by 2020. (Yonhap)

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