On March 24, it was reported that LG New Energy will spend nearly $1.4 billion to build a second independent electric vehicle battery factory in Arizona, USA; Canada builds its first large-scale domestic EV battery manufacturing plant.
LG New Energy
On March 24, it was reported that LG New Energy will spend nearly $1.4 billion to build a second independent electric vehicle battery factory in Arizona, USA. The new plant will be the first in the United States to produce cylindrical cells. Construction is scheduled to begin in the second quarter of 2022, with an annual production capacity of 11GWh, which is scheduled to start production in the second half of 2024.
On the same day, according to official news from LG New Energy, the company signed an agreement with U.S. automaker Stellantis yesterday to set up a joint venture in Canada and build the first large-scale domestic electric vehicle battery manufacturing plant to meet most of Stellantis’ North American footprint. Automobile production demand.
It is reported that the joint venture will invest more than 5 billion Canadian dollars (4.1 billion US dollars) to establish operations, including a new battery manufacturing plant in Windsor, Ontario, Canada. Plant construction activities are scheduled to begin later this year, with production starting in the first quarter of 2024, with a target annual capacity of more than 45GWh.
According to the data, as part of the Dare Forward 2030 strategic plan, Stellantis announced plans to reach 5 million annual global battery electric vehicle sales by 2030, 100% of the passenger vehicle BEV sales mix in Europe, and 50% of the passenger vehicle in North America. Car and light truck BEV sales portfolio. At the same time, Stellantis has also increased planned battery capacity by 140GWh to around 400GWh, which will be supported by five battery manufacturing plants as well as additional supply contracts.
Among them, Samsung SDI, another Korean battery factory, also signed a memorandum of understanding (MOU) with Stellantis on the establishment of a power battery joint venture in the United States. Scheduled to start production in 2025, the battery plant will initially have an annual capacity of 23GWh, which may increase to 40GWh in the future. The battery plant will supply Stellantis vehicle assembly plants throughout the United States, Canada and Mexico.
LG New Energy said it is gradually expanding its production network around the world, including Canada, the United States, Poland, Indonesia, China and South Korea. Together with the newly announced investment plan, the company has now secured more than 200GWh of annual production capacity in North America, which translates into the production of 2.5 million high-performance electric vehicles.
The battery network has learned that LG New Energy is currently investing in the third and fourth battery plants with General Motors in the United States. The third battery factory will jointly invest 2.6 billion US dollars to build a joint investment between the two companies in Michigan, the United States. The new factory is expected to start construction within this year, be completed in the second half of 2024, and enter the first phase of mass production in early 2025, with a planned annual production capacity of 50Wh ; The fourth battery factory plans to finalize the location of the fourth factory in the first half of 2022.
In addition, LG New Energy and Hyundai Motor recently announced that they will set up a battery joint venture in Indonesia, which is expected to be put into operation in 2024. The initial planned annual production capacity is 10GWh, but the two companies agreed to increase the annual battery capacity of the factory in the future according to demand. Raised to 30GWh.
According to data released by the China Automotive Power Battery Industry Innovation Alliance, in 2021, LG New Energy's power battery installed capacity in my country will reach 6.25GWh, accounting for 4%; 0.47GWh, accounting for 1.56%.
