Shulou(Shulou.com)11/24 Report--

CTOnews.com, Sept. 7, according to Yonhap news agency, despite the changes in the investment environment brought about by the US inflation reduction Act, South Korea's LG New Energy is still considering setting up a battery plant in Arizona as planned.

In June, LG's LG Energy Solutions (LG Energy Solution) said it was reviewing rising plant costs. The company will clarify its position by submitting regulatory documents later this month or next month.

CTOnews.com has reported that in March this year, LG New Energy announced that it would spend 1.7 trillion won (US $1.4 billion) to build a battery factory in Queen Creek, Arizona, with a capacity of 11GWh, to provide cylindrical batteries for Tesla and other electric start-ups, which were originally scheduled for mass production in the second half of 2024.

According to reports, the new LG plant will become the first factory in the United States to produce columnar batteries. Construction work began in the second quarter of 2022 and was mass-produced in 2024 with a capacity of 11GWh. Tesla, Lucid, Proterra and Philip Morris, a tobacco company, may all become customers.

It is worth mentioning that Musk said that car production in the next 2-3 years will be limited by battery capacity, he called on suppliers to increase capacity. It was reported earlier this month that the Panasonic and Ningde era were considering building a new factory in North America to supply Tesla with batteries.

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