LG Energy Solution to invest 4 trillion won in South Korea battery facility

SOUTH Korean battery maker LG Energy Solution said on Monday (Dec 19) it plans to invest 4 trillion won (S$4.2 billion) from this year to 2026 in a facility making batteries for electric vehicles and other goods.

The project in Ochang, South Korea, will include R&D and production facilities and related infrastructure, and is expected to add 1,800 employees, the company said in a statement.

“We plan to set up a diversified product portfolio including pouch-type and cylindrical batteries to respond to customer needs in a timely manner, and differentiate production capabilities based on a ‘smart’ factory,” an LG Energy Solution spokesperson said. REUTERS