September 24, 2015 09:42
LG Chem will build a plant to produce batteries for electric vehicles in Europe.
The company on Wednesday said that it decided to build an electric car battery plant with an annual production capacity of 50,000 batteries in Europe and is looking for a suitable site.
The most likely location is in Wroclaw in Poland, where LG Electronics, LG Display and LG Innotek have their branches.
LG Chem has a plant here with an annual production capacity of 200,000 batteries in Ochang, North Chungcheong Province and another overseas with an annual production capacity of 50,000 batteries in Holland, Michigan.
It is also building a factory in Nanjing, China, which is scheduled to be completed by the end of this year. The plant will produce 100,000 batteries annually starting next year.
A company spokesman said, "A factory in Europe will help us reduce logistics costs and increase supplies to the European market."
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