NEW YORK (AP) — LG Energy Solution says it will invest more than $4.5 billion in its U.S. battery production business by 2025 as automakers ramp up production of electric vehicles. The Korean company, which has a joint venture with General Motors, says the investment will help create 10,000 jobs. GM and LG are currently building a $2.3 billion battery factory in Lordstown, Ohio, near Cleveland, that will employ about 1,000 people when it’s completed in 2022. The consulting firm LMC Automotive predicts that U.S. battery powered vehicle sales will exceed 1 million per year in 2023, and more than 4 million by 2030.
LG to invest 4.5 Billion in Battery Production Business
