LG Chem To Start EV Car Battery Plant In US May 7, 2013
South Korea’s LG Chem, the world’s third-largest maker of lithium-ion batteries, is planning to start production at its Michigan battery cell manufacturing plant in July - August.
LG Chem is aiming to produce enough battery cells annually at this Michigan plant to equip 60,000 electric vehicles.
The lithium-ion battery cell manufacturing plant in Michigan was built with the help of US government funding, $151 million.
LG Chem supplies electric car batteries for GM’s Volt, Ford’s Focus Electric, and the Renault SA from its South Korean facilities.
GXY Price at posting:
7.8¢ Sentiment: Hold Disclosure: Held
