QUEEN CREEK, AZ — South Korean battery giant LG Energy Solution Ltd. has confirmed its plans to move forward with building a battery complex in Arizonaand will be significantly increasing its investment in the project.
LGES, one of the largest battery makers in the world, said Friday that now it plans to invest $5.5 billion to construct two manufacturing plants in Queen Creek, a town located just south of the Phoenix-Mesa Gateway Airport.
The company said it will build a $3.2 billion cylindrical battery manufacturing facility for electric vehicles with a capacity of 27 gigawatt hours and a $2.3 billion lithium-iron phosphate pouch-type battery plant for energy storage systems with a capacity of 16 gigawatt hours.
This is nearly four times the original investment of $1.4 billion for a battery plant that LG announced last year for a 1 million-square-foot battery factory, although town documents have said the company's investment was expected to total $2.8 billion and bring 2,800 jobs.
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