LG to invest $5.5 billion in US biggest battery factory

Even though LG has not been active in the smartphone market the company has announced that they will invest in battery factory.

Although LG has withdrawn from the smartphone market, the company continues its investments. Investing heavily in the US's largest battery company, LG aims to stand out in this field. With its recent announcement to spend $5.5 billion in a battery manufacturing complex in Arizona, LG Energy Solution is acting bravely.

LG to invest in battery factory

lg energy — LG to invest in energy market

LG selected Queen Creek in Arizona for the location of its upcoming battery factory, but the building won't be limited to EV batteries. The business is investing in both energy storage systems and batteries for electric vehicles. The business is also investing $2.3 billion in a special manufacturing facility for energy storage at the same time. The pouch LFP batteries made in this factory will be used in either domestic or industrial energy storage systems.

Given that both GM and Tesla use LG as their battery provider, this choice will benefit them. Seeing that there is a growing market in the field of energy, the company may have accelerated its work in this field. Despite withdrawing from the mobile phone market, the company, whose name we will continue to hear, will continue to come to the fore with studies that will be encountered especially in the field of energy.