LG Energy Solution to invest $5.5 billion in U.S. battery plant

South Korean battery manufacturer LG Energy Solution (LGES) announced that it has begun construction of its battery plant in the United States with a total investment of US$5.5 billion. The plant in Arizona is expected to start production in 2026. LGES plans to produce 46 series cylindrical batteries for electric vehicles and lithium iron phosphate (LFP) soft pack batteries for energy storage systems at the plant, with an annual production capacity of 36 GWh and 17 GWh respectively.