LG Energy modifies battery manufacturing plans at proposed Queen Creek facility
Nov 5, 2023, 5:00 AM
(Town of Queen Creek Photo)
LG Energy Solution is modifying its plans at its proposed 1.4-million-square-foot battery manufacturing plant in Queen Creek, stating it intends to make it a key production hub for cylindrical batteries in North America.
In a recent third quarter earnings report, the South Korean battery company said it will now produce 46-Series cylindrical batteries at an annual capacity of 36 gigawatt hours at the Queen Creek plant to “pre-emptively respond to market demands.”
The company had previously planned to make 2170-Series lithium-ion cylindrical batteries at an annual production capacity of 27 gigawatt hours.
“In response to constantly evolving and diversified market needs, we will secure differentiated production competitiveness across all segments, ranging from premium and mainstream to affordable,” Youngsoo Kwon, CEO of LG Energy Solution, said in a statement. “This will become our core engine for consistent mid-to-long term growth, upon which we will become a global leader providing the world-best value to our customers.”