South Korea’s energy manufacturers, citing industrial policy passed in Washington last year, are putting a lot of money into facilities in the United States.
First consider this week’s announcement that LG Energy Solution, a battery manufacturer, just detailed its plans with Honda to build a lithium-ion battery factory in Ohio, the output of which will go into the electric vehicles (EVs) the automaker will sell in the North American market. A major component of the Inflation Reduction Act requires that many key inputs in EVs, like their batteries, must be made in America.
