LG Energy Solution to Spend $5.5 Billion on US Battery Planthttps://www.bnnbloomberg.ca/lg-energy-solution-to-spend-5-5-billion-on-us-battery-plants-1.1899810
......LG will build a separate plant with 16 gigawatt-hours capacity for energy storage systems using lithium-iron-
phosphate pouch-type batteries, which will start mass production in 2026.
Customers for plant, which will be compliant with the US Inflation Reduction Act’s push for domestic production for EVs, will include automakers and startups based in North America.
Demand for EV batteries has “risen significantly” from customers in North America because of the IRA, LG said. The IRA is expected to spur the growth of the renewable energy industry in North America, it added.