LG Energy Solution's $5.5 Billion Stand-Alone Battery Manufacturing Complex Project in Arizona Well Underway

"Of many other sites, this Arizona facility has a special meaning to us. This is the second stand-alone facility to be built in the U.S. And it is also the first manufacturing facility to produce cylindrical batteries in the U.S. Right here, is where we can build quality cylindrical batteries, which will be used to power millions of EVs," said Brian Oh, Head of Mobility & IT Battery Division at LG Energy Solution. "It gives me a great pleasure, knowing that this landmark project, here in Queen Creek will create thousands of new, quality-jobs that will contribute to building green economy."

"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 Arizona, where the abundant solar energy surrounds the region. Quality batteries, made right here in the Copper State, will reach every corner of America to provide power."

"This transformative investment will have a lasting impact not only in Arizona, but across the country and moves us one step closer toward our clean energy goals," said Governor Katie Hobbs. "These are the jobs of the future - and the State of Arizona is committed to being an active partner in ensuring Arizonans have the skills to fill these jobs."

LG Energy Solution has another stand-alone facility in Michigan, which was built a decade ago and is currently undergoing expansion that would quintuple its average annual production capacity. The company also has five other joint venture facilities in the U.S. with major automakers, including General Motors, Honda, and Hyundai Motors Group, representing its full-fledged efforts to provide IRA-compliant batteries that will expedite the clean energy transition in the country.

With the Arizona complex, the company has now secured the most diverse and competitive product portfolio, which encompasses pouch-type and cylindrical batteries for EVs and LFP batteries for ESS, in North America.

"By further expanding our product portfolio and offering diverse options to our customers, we will continue to strengthen our market competitiveness," said David Kim, CEO of LG Energy Solution. "We also expect to keep growing in the global market by maximizing customer value through unmatched technology leadership."

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., Hyundai Motor Group, and Honda Motor Co., Ltd. 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.

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SOURCE LG Energy Solution