S.Korea's LGES plans new EV battery plant in Europe | Reuters
"SEOUL, July 27 (Reuters) - Tesla supplier LG Energy Solution Ltd (LGES) (373220.KS) said on Wednesday it was looking at sites in Europe for a new battery plant and would ramp up production in Asia outside of China, where COVID lockdowns and rising costs were weighing on profits.The South Korean firm, which supplies electric vehicle (EV) batteries to automakers including General Motors Co (GM.N), Ford Motor Co (F.N) and Volkswagen AG (VOWG_p.DE), said it was responding to increased demand in Europe for cylindrical batteries - the type used by Lucid and Tesla Inc (TSLA.O)."
