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LG Chem Plans To Build Second Power Battery Factory In China

Author: Source: Datetime: 2018-07-28 10:02:28
LG Chem plans to build a second power battery factory in China. Recently, Nanjing Jiangning Binjiang Development Zone held a signing ceremony with LG Chem. LG Chem plans to start construction of a power battery project in Binjiang Development Zone in October this year. The total investment of the project is about 2 billion US dollars. It will be completed and put into operation in October 2019, and the annual production capacity will reach 32GWh in 2023.
LG Chem Plans To Build Second Power Battery Factory In China
Battery manufacturer South Korea's LG Chem maintains an average annual sales growth of more than 30% in the world, especially automotive power batteries and ESS energy storage batteries are ranked first in the world. The battery project, which is scheduled to start in Nanjing in October this year, mainly produces power batteries, energy storage batteries and small batteries. The factory plans to build 23 electrode and battery production lines, including 16 power batteries, 3 energy storage batteries and 4 small batteries.
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The project will begin mass production in October 2019 and achieve full production in 2023. After the project is put into production, the annual production capacity can reach 32GWh, and the annual output value will reach 35 billion yuan. Its power battery products are mainly supplied to famous automobile manufacturers such as Hyundai Motor, Volvo, GM, Chrysler and Renault, and LG will continue to expand its investment scale and production capacity as new orders from domestic and international vehicle brands increase. The ultimate goal is to meet the needs of 500,000 electric vehicles, such as the Chevrolet Bolt and the Tesla Model S 60kW-h solar power generator battery pack.

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