LG Energy Solution Plans Major U.S. Expansion, Investing $2.3B in New Arizona Battery Plant to Triple ESS Revenues

LG Energy Solution announces plans to triple global ESS revenues in 5 years, invest $2.3 billion in the U.S. market.
The company will build the first large-scale ESS battery production facility in the U.S. in Arizona.
LG Energy Solution aims to become a fully integrated ESS provider, from cells to software solutions.
The company is expanding LFP battery offerings for reliability and low maintenance.
New LG Energy Solution enblock brand launched for customizable residential ESS.

businesswire.com

Relevant topic timeline:

9/1/2023

Hyundai, LG to invest additional $2 billion in Georgia battery plant

Hyundai Motor Group and LG Energy Solution are investing an additional $2 billion in their battery cell manufacturing joint venture in Georgia, raising the total investment value to over $4 billion and creating 8,500 new jobs over eight years.

10/5/2023

Toyota Signs $3 Billion Battery Deal with LG to Power U.S. Electric Vehicle Production

South Korea's LG Energy Solution has signed an agreement to supply Toyota with lithium-ion batteries for electric vehicles that will be assembled in the U.S., supporting Toyota's expanding battery EV line-up and making them one of LG Energy Solution's clients, bringing their total number of top automakers as clients to nine.

10/4/2023

LG Energy Investing $3B in Michigan for New Battery Plant and 1,000 Jobs to Supply Toyota EVs

LG Energy Solution is investing $3 billion in Michigan to manufacture lithium-ion batteries for Toyota electric vehicles, creating over 1,000 new jobs.