LG Chem, one of LG Group’s units, is considering building a car battery factory in Europe to meet the increasing demand and it has apparently chosen a site in Poland.
Even if the electric trend is not yet on a high pace in Europe, it will definitely pick up some speed in the near future and suppliers have to be ready to meet the demand. Therefore, South Korea’s LG Chem is thinking ahead, planning to be closer to the European automotive market by building an electric vehicle battery factory in the region, a person familiar with the matter told Reuters. The company apparently have made up its mind on a site in Poland and “the plant will be completed in about one-and-a-half years,” said the source, but without providing further details about the investment.
However, this will be a considerable one, taking into account the fact the production capacity will be from 229,000 EV batteries a year, making it LG Chem’s second-biggest EV battery factory after China. The source also revealed that the facility would be located in the southwestern Polish city of Wroclaw.
LG Chem has established itself among one of the world’s biggest electric vehicle battery suppliers, as it collaborates with 25 automakers globally, including Renault, Volkswagen, Audi and Volvo in Europe, and General Motors in the United States, for which it provides “power” for the upcoming Chevrolet Bolt. LG Chem is not the only supplier looking to build a plant in Europe, as its rival from Samsung SDI is also mulling this possibility.