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Home autonews LG Energy Solution to invest $3.1 bln in S.Korea battery production

LG Energy Solution to invest $3.1 bln in S.Korea battery production2022-12-19 13:27:09

An employee walks past the logo of LG Energy Solution at its office building in Seoul
An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. Picture taken November 23, 2021. REUTERS/Kim Hong-Ji

SEOUL, Dec 19 (Reuters) - South Korean battery maker LG Energy Solution (373220.KS) said in a statement on Monday it plans to invest 4 trillion won ($3.1 billion) between this year and 2026 to build and expand cylindrical battery production in Ochang, South Korea.

The project is also expected to lead to the hiring of a further 1,800 employees, the company said in a statement.

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