LG Chem To Invest $387 Million Into Its Polish Affiliate For EV Battery Production

1 week ago by Mark Kane 11

Renault ZOE Z.E. 40 battery

A year ago LG Chem began construction of Europe’s largest lithium-ion battery factory in Poland, that would supply up to 100,000 plug-in cars.

…hrm, a longer range/60 kWh EV to arrive late in 2018 you say Nissan?  And you what?  You just sold your battery business off?  Interesting.

Now LG Chem has announced in a regulatory filing last week that a new investment in the facility amounts to 436 billion won ($387 million), to be put in place by June 2020.

What’s the money for?  LG Chem says the money will specifically be put to work expanding the factory’s output capacity.

It’s almost like LG Chem is getting ready to pump out some extra production for a new/high volume 200 mile EV to arrive in late 2018 or something.

With Europe on-board, LG Chem will have battery production facilities in all major market (Asia – South Korean and China, North America – U.S. and Europe – Poland).

Nameless 60 kWh OEM battery that was developed with LG Chem…posted here for no particular reason

The European facility will not wait long for customers, as LG Chem is supplying probably all the major manufacturers:

  • Renault
  • Daimler
  • Volkswagen
  • Audi
  • Volvo
  • Jaguar
  • PSA

source: The Korea Herald

Tags: , ,

11 responses to "LG Chem To Invest $387 Million Into Its Polish Affiliate For EV Battery Production"

  1. menorman says:

    But only Tesla can scale up their operations.

    /s

    1. Nick says:

      Sometimes the tortoise catches the hare. 🙂

      Here’s hoping LG manages to stay ahead of demand, and the OEMs make compelling offerings.

      1. Viking79 says:

        People over value the importance of the gigs factory, any Lithium ion production can be met within 2 years by LG or other large companies, all they need are battery orders. Tesla was in the unique position of being a startup and most battery companies didn’t want to work with them without an upfront investment. GM, Merc, VW, etc have the clout and money to buy what they need.

    2. Cavaron says:

      Let me calculate:
      LG Chem expands its EU factory from 100.000 Battery units to lets say 200.000 for Nissan, Renault, Daimler, Volkswagen, Audi, Volvo, Jaguar, PSA…

      Teslas GF supports 1.000.000 Battery units for… well… Tesla. More GFs in Europe and Asia are planned. Time to buy more Stock.

  2. Sean says:

    Is this in addition to the ~$300 million they had previously commit to the location? Or is this reconfirming the ~$300 million they commit before?

    1. Viking79 says:

      It sounds like it is in addition to, maybe someone else placed a large order for batteries?

  3. Joe says:

    it would be nice to have a factory in France to limit transpiration distances for very heavy batteries for Europe best seller: renault Zoe.

    If in the north of France it could supply Nissan Leaf in the UK was well

    1. MTN Ranger says:

      Transpiration? I see a Leaf joke in that somewhere.

  4. buu says:

    I don’t think VW currently uses LG cells

    Joe: railway is 6 km away (not saying it will be used)

  5. Jake Brake says:

    LG has contracts with everyone. They just dont go running around making big claims about how big they are (like tesla) because they dont need to. And its not in their best interest to reveal production capacity or planned production capacity.

    1. Ocean Railroader says:

      I think LG could have the same if not more battery making capacity than Tesla with the fact they have several factories. Most of these other factories are also under construction to be enlarged.

Leave a Reply