LG Chem to expand car battery capacity image

Because experts and analysts say that electric cars will finally gain more traction starting with 2016, car battery manufacturer LG Chem from South Korea is now planning to address the decision on whether to expand its production capabilities.

The manufacturer should come to a final decision soon, in no more than three or four months, though it didn’t give any additional details concerning the increase of the output or where it plans to make expansion to the manufacturing capabilities. Currently, the auto parts supplier has two electric car battery manufacturing facilities, one in its home country and another on in the United States. The maker provides batteries for electric cars of several global automakers, including General Motors and Renault.

“We are seriously considering investing in expanding our EV battery production,” said, during this week’s Busan Motor Show, president Kwon Yong-soo, who also heads LG Chem’s battery unit.

Back in February, Chief Executive Officer Park Jin-soo also hinted to the fact that the South Korean company is now assessing whether to build a third battery plant, located in China and intended to tap into expected battery demand in the world’s largest automotive market. The executive said the Chinese government’s efforts to stop and decrease the severe air pollution in the country would also increase demand for the products offered.

Via Reuters