All Things Newz
Business

LGES to reevaluate investment plan for Arizona battery factory – spokesperson

[ad_1]

Article content

SEOUL — South Korean battery maker LG Energy Solution Ltd (LGES) plans to reevaluate its investment plan for a standalone Arizona battery factory due to the current economic environment in the United States, a company spokesperson said on Wednesday.

In March, LGES, which counts Tesla Inc, General Motors Co and Volkswagen AG among its customers, announced plans to invest 1.7 trillion won ($1.3 billion) to build a battery factory in Arizona by 2024 to meet demand from startups and other North American customers.

($1 = 1,290.8000 won) (Reporting by Heekyong Yang; Editing by Tom Hogue)

[ad_2]

Source link

Related posts

Why forecasters might be getting inflation wrong — again

British PM Sunak faces new demands from his fractious party

The Jump in Energy Prices Drove More Money to Climate Tech Last Year