LG to build car battery plant in Poland -Lithium - Ion Battery Equipment

LG to build car battery plant in Poland -Lithium - Ion Battery Equipment

According to foreign media reports, LG Chem will build a car battery factory in Poland, and the investment cost and output have not yet been determined. LG Chem has announced that it will build a lithium-ion battery plant for electric vehicles in Poland to meet European carmakers’ demands to cut transportation costs.

LG Chem will break ground at the end of the year and the new plant will be officially completed by the end of 2017. It is the first time that a battery factory has appeared in Europe, but there are such chemical plants in South Korea, my country and the United States. The output and investment cost of LG's new plant have not yet been determined.(Lithium - Ion Battery Equipment)

LG's Seoul headquarters also stated that the completion of the battery plant in Poland is aimed at increasing the sales volume of the car battery business, that is, from about 1.2 trillion won (about 6.48 billion yuan) planned in 2016 to 7 trillion won in 2020.

LG Chem said that after developing a battery that can run 300 kilometers on a charge, orders will rise significantly. The company will focus on developing technology to improve fast charging capabilities and achieve a range of 500 kilometers per charge and beyond.

As the world's third largest automotive lithium-ion battery manufacturer, LG Chem supplies automotive batteries to 28 companies in my country, South Korea, Europe and the United States, including General Motors. Taking into account the weight of the battery, building a factory in the user's residence can significantly reduce transportation costs.

LG Chem is not the only car battery maker targeting the European market. Samsung SDI is also planning to build a plant in Hungary, which is expected to cost around 400 billion won and complete in the second half of 2018. Samsung SDI will likely be a supplier to European automakers like BMW.



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