LG Chem is significantly expanding its lithium-ion battery manufacturing capacity on three continents simultaneously.
The 2.1 trillion KRW ($1.8 billion) facility will be producing up to 32 GWh annually by 2023, which sounds like enough to cover Tesla's needs and maybe also other manufacturers. The initial target is 6 GWh.
According to the article, together with the first LG Chem plant in Nanjing, the total output will be more than 50 GWh annually at some point in the future. Additionally, LG Chem's joint venture with Geely Automobile will be able to produce 10 GWh, which in total translates into 60-70 GWh annually.
LG Chem plants:
- South Korea
- China: two plants in Nanjing
- China: a 50/50 joint venture with Geely Auto (expected 10 GWh annually from 2021)
- Poland, Europe
- U.S.: Michigan,
- U.S: 2nd plant in the U.S. announced (50/50 JV with GM in the Lordstown area of Northeast Ohio, more than 30 GWh annually)