LG Energy To Build New Battery Plant In Arizona
Battery manufacturing is becoming increasingly important for national security in the US. As we know, batteries play a crucial role in powering various electronic devices, electric vehicles, military equipment, and even medical needs for millions of people. With more battery manufacturing in the US, the country can reduce its dependence on foreign countries for this critical component of its technological infrastructure.
The Infrastructure Bill, signed into law by President Joe Biden on November 15th, 2021, has provided a major boost to the domestic battery production industry. The bill includes $65 billion in funding for new and existing infrastructure projects, with a focus on improving access to reliable high-speed internet and modernizing transportation networks.
The investment made by LG Energy Solution in the new battery manufacturing complex in Queen Creek, Arizona, marks a significant milestone in the domestic battery production industry. It is the largest investment made for a standalone battery manufacturing facility in North America to date. Additionally, the amount invested is more than four times the company’s initial announcement last year to manufacture cylindrical EV batteries in the same location.
LG Energy Solution’s new battery manufacturing complex in Arizona will provide a significant boost to the company’s overall production capacity, as well as improve its relationships with customers in the EV and ESS sectors. LG Energy Solution’s new manufacturing facilities will be located geographically close to its customers, allowing the company to lower its logistics cost and improve its efficiency.
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