South Korean firm LG Chem will invest KRW2tn ($1.77bn) in building a second electric car battery plant in China's Nanjing, to meet increasing demand. LG Chem expects work to begin on the plant in 2023, with production scheduled to begin 12 months later. Total capacity is set to reach 32 GWh, the equivalent of 500,000 EV batteries, by October this year.
South Korean firm LG Chem will invest KRW2tn ($1.77bn) in building a second electric car battery plant in China's Nanjing, to meet increasing demand. LG Chem expects work to begin on the plant in October this year, with production scheduled to begin 12 months later. Total capacity is set to reach 32 GWh, the equivalent of 500,000 EV batteries, by 2023.