LG Chem, which operates a huge lithium-ion battery factory in Wroclaw, Poland, recently acquired a nearby Turkish Vestel television assembly plant.
The 223,000 square-metre site was purchased for about $31.4 million from Vestel according to media reports and will be re-purposed to support LG Chem’s battery production for electric cars.
LG Chem already operates several plants globally and is both expanding and adding new ones to keep pace with surging demand.
“Currently, LG Chem has five battery plants in South Korea, China, the United States and Poland, with a combined capacity of 70 gigawatt-hours.
The South Korean chemical giant plans to raise its capacity to 100 GWh, enough to supply batteries to 1.6 million electric vehicles, by the end of this year.”
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