BUSINESS

LG Chem reviewing 2nd EV battery plant in US with GM: report

By Song Su-hyun
  • Published : Oct 4, 2019 - 16:55
  • Updated : Oct 4, 2019 - 17:00

LG Chem, South Korea’s leading lithium-ion battery maker, might build a new plant to manufacture electric vehicle battery cells in the United States with its longtime partner General Motors, according to news reports Friday.

Rumors have been circulating here since the Wall Street Journal reported that GM had offered a deal to the striking United Automobile Workers, which would entail the construction of a new battery cell plant in Lordstown, Ohio. 

(Yonhap)

The deal was reportedly made to assuage the unionized workers, who are against GM’s plan to shut down the current assembly line in the city.

The WSJ report mentioned LG Chem and China’s CATL as possible candidates that could set up a joint venture with GM to build the factory.

LG Chem already produces EV battery cells for GM’s Chevrolet Bolt in Michigan and is the US automaker’s largest battery supplier, through a 10-year-old partnership.

“In light of growing demand for EV batteries, it is correct that the company is considering new investments to increase production capacity,” an LG Chem official said. “But nothing has been confirmed yet about GM’s plan.”

By Song Su-hyun (song@heraldcorp.com)


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