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LG Chem considering 2nd EV battery plant in U.S., report says

July 11, 2019

SEOUL/DETROIT — South Korean electric vehicle battery maker LG Chem is considering building a second U.S. factory, three people familiar with the matter told Reuters, accelerating a race to add capacity to meet growing global demand for green vehicles.

LG Chem, one of the leading EV battery makers in the world that counts General Motors and Volkswagen Group among its customers, is weighing investing about $1.7 billion in the plant that could begin production in 2022, one of the people said. Kentucky and Tennessee are among the candidates for the plant’s site, the person said.

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