LG Chem Opens Battery Plant in China

LG Chem has opened its first plant to produce batteries for electric vehicles in China.

LG Chem said the plant in Nanjing will be able to produce over 50,000 batteries a year from next year. Combined annual production of its all three plants in Korea, China and the U.S. is to exceed 180,000 units.

LG Chem has deals to supply EV batteries to carmakers, including China's biggest automaker Changan Automobile. The company's goal is to achieve cumulative sales of over US$8.5 billion by 2018.