LG Chem Starts Building Europe's Largest EV Battery Plant

LG Chem is building a plant to produce batteries for electric vehicles in Poland.

LG said on Thursday that it held a groundbreaking ceremony for the plant in the southwestern city of Wroclaw. Almost five times the size of a football stadium and with an annual production capacity of 100,000 batteries, it will be Europe's largest battery plant. It is expected to be complete by the second half of next year.

The W400-billion project makes LG Chem the only company in the industry with production facilities in Korea, China, Europe and the U.S. (US$1=W1,113). The four markets account for over 90 percent of global demand for EVs.

Over 300 people attended the ceremony including Polish Deputy Prime Minister Mateusz Morawiecki and LG Group chairman Koo Bon-moo. Koo said the company would use the plant as a base from which to expand its presence in Europe.