LG Energy Solution has announced it will invest USD5.2 billion in a new battery manufacturing complex in the US. The new plant located in Queens Creek, Arizona will house two facilities carrying out separate operations; one facility will produce cylindrical batteries for use in EVs with an annual production capacity of 27GWh, while the other will manufacture LFP pouch cells to be deployed in energy storage applications with 16GWh capacity. The former will receive USD3.2 billion in investment, while the latter will see USD2.3 billion put towards its construction. The total investment is four times the amount which the company initially announced last year, and is the single largest investment ever for a stand-alone battery manufacturing plant in north America. It is also the first instance of a cylindrical battery manufacturing site in the US being funded solely by a Korean battery manufacturer.
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