LG Energy Solution hits pause on second Arizona battery plant
Jun 30, 2024, 5:00 AM
LG Energy Solution has started vertical construction in 2024 on its planned battery manufacturing campus south of Phoenix in Queen Creek, shown in this rendering. (LG Energy Solution)
(LG Energy Solution)
LG Energy Solution says it’s temporarily pausing construction plans for the second phase of its $5.5 billion battery manufacturing plant in Arizona.
LGES has been planning to develop two battery plants in Queen Creek including a cylindrical battery factory for electric vehicles and an energy storage system (ESS) battery factory. The company is expected to become Queen Creek’s largest employer, creating nearly 4,000 jobs.
Vertical construction on its cylindrical battery factory started earlier this year and will not be impacted by the South Korean tech giant’s decision to pause plans for its second plant, according to the company.
Production is expected to start in 2026 on the LGES battery plant that’s currently under construction by general contractor Yates Construction and designed by Ware Malcomb.
For its second battery plant, an LGES statement provided to the Business Journal said the company is “adjusting the pace” of its investment based on market conditions and “focusing on optimizing our operations.”
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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