LG Chemical is building a second battery factory with an output capacity of car batteries enough for 530,000 high performance pure electric cars in Nanjing, China.
Construction of the plant will begin in October this year and commercial production will begin in October the next year. It is planning to secure a production ability of 32GWh per year by investing two trillion won by 2023.
According to local media in China, Vice President Kim Jong-hyun of LG Chemical and Chinese local government leaders had a signing ceremony in Nanjing and another signing ceremony is slated to establish a second electric car battery plant at the Development Zone of the Binjiang District. The purpose of LG Chemical’s decision to expand its production facilities, according to the company management, is to insure timely supply of electric car batteries for global vehicle companies.