Investing.com
Published Apr 03, 2024 23:42
The attendees included
The complex consists of two manufacturing facilities which are the company's first stand-alone cylindrical and ESS battery plants in
The ESS battery manufacturing facility, called LG Energy Solution Arizona ESS, will produce lithium iron phosphate (LFP) pouch-type batteries for energy storage systems (ESS). It is one of the first ESS-exclusive battery production facilities in the world. By situating its stand-alone ESS battery facility in
When fully operational, the complex's average annual production capacity is expected to reach 53GWh (cylindrical batteries 36GWh, LFP ESS batteries 17GWh).
During the construction progress updates and site tour,
Once the construction is complete, both facilities are expected to start production in 2026. To secure high-quality workforce that will operate the state-of-the-art manufacturing complex, the company will also commit to hiring and fostering the next-generation battery professionals in the area, creating several thousand new quality jobs. "We expect the recruitment of our [launch team] members to begin late this year, and a full-scale recruitment to follow from the second half of 2025," said Ra.
"Of many other sites, this
"ESS plays a vital role in green energy infrastructure as it utilizes power supply in a flexible manner," said Hyung Kim, Head of ESS Battery Division. "There is no better place to build the source of our sustainable energy here in
"This transformative investment will have a lasting impact not only in
LG Energy Solution has another stand-alone facility in
With the
"By further expanding our product portfolio and offering diverse options to our customers, we will continue to strengthen our market competitiveness," said
About LG Energy Solution
LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V. (NYSE:STLA), Hyundai Motor (OTC:HYMTF) Group, and Honda Motor Co., Ltd. (NYSE:HMC) At the forefront of green business and sustainability, LG Energy Solution aims to achieve carbon neutral operations by 2050, while embodying the value of shared growth and promoting diverse and inclusive corporate culture. To learn more about LG Energy Solution's ideas and innovations, visit https://news.lgensol.com.
Written By: Investing.com
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