{"id":14803,"date":"2023-03-29T02:51:34","date_gmt":"2023-03-29T09:51:34","guid":{"rendered":"https:\/\/essential.construction\/news\/lg-energy-solution-to-invest-5-5b-in-arizona-battery-complex\/"},"modified":"2023-03-29T02:51:34","modified_gmt":"2023-03-29T09:51:34","slug":"lg-energy-solution-to-invest-5-5b-in-arizona-battery-complex","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/lg-energy-solution-to-invest-5-5b-in-arizona-battery-complex\/","title":{"rendered":"LG Energy Solution to invest $5.5B in Arizona battery complex"},"content":{"rendered":"<p> <a href=\"https:\/\/essential.construction\/files\/membership-default-internal\/\" class=\"memberhide\"><img decoding=\"async\" src=\"https:\/\/essential.construction\/news\/wp-content\/uploads\/sites\/15\/2023\/01\/20220718_175041000_iOS.jpg\" alt=\"-\"><\/a><br\/><br \/>\n<\/p>\n<div>\n<h3>Dive Brief:<\/h3>\n<ul>\n<li><span><span><span><span><span><span>LG Energy Solution plans to invest $5.5 billion to build a battery complex in Queen Creek, Arizona, according to a <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/news.lgensol.com\/company-news\/press-releases\/1613\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>March 24 press release<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span>.<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li><span><span><span><span><span><span>The complex will consist of two battery facilities<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><strong><span><span>,<\/span><\/span><\/strong><\/span><\/span><\/span><span><span><span><span><span><span> one <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>to manufacture<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> cylindrical EV batteries and another <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>to<\/span><\/span><strong><span><span> <\/span><\/span><\/strong><\/span><\/span><\/span><span><span><span><span><span><span>produce lithium iron phosphate <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>(LFP)<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> batteries for energy storage systems.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<li>Production at the cylindrical EV battery plant is slated to begin in 2025, while the second site is expected to open in 2026.<\/li>\n<\/ul>\n<h3>Dive Insight:<\/h3>\n<p><span><span><span><span><span><span>This is LG Energy Solution\u2019s second investment in Queen Creek, which expands on its <a rel=\"nofollow noopener\" href=\"http:\/\/www.azcommerce.com\/news-events\/news\/2022\/4\/queen-creek-to-house-high-tech-battery-facility\/\" target=\"_blank\">$1.4 billion investment<\/a> made last year for<\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>\u00a0its first cylindrical battery plant in the U.S.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>Of the <\/span>newly announced <span>$5.5 billion, $3.2 will go toward the cylindrical battery manufacturing facility, which would have a capacity of 27 gigawatt-hours <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>a year<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span>.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The remaining $2.3 billion will go toward the <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>LFP battery<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> facility, with a capacity of 16 gigawatt-hours annually.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>LG Energy <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>Solution\u2019s<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/news.lgensol.com\/company-news\/press-releases\/1168\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>initial investment<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> in the Queen Creek cylindrical battery plant originally <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>would have produced<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> 11 gigawatt-hours annually and was expected to <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>come online next year, according to last year\u2019s announcement.\u00a0<\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span><span>The investments are part of a larger growth plan LG Energy Solution has for the U.S. market. In January, the company <a rel=\"nofollow noopener\" href=\"https:\/\/www.manufacturingdive.com\/news\/hanwha-lg-energy-solution-partner-on-battery-production-in-us\/640595\/\" target=\"_blank\">signed a <\/a><\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.manufacturingdive.com\/news\/hanwha-lg-energy-solution-partner-on-battery-production-in-us\/640595\/\" target=\"_blank\"><span><span><span><span><span>deal<\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> with Hanwha Group to <\/span><\/span><\/span><\/span><\/span><\/span><span><span><span><span><span>build<\/span><\/span><\/span><\/span><\/span><span><span><span><span><span><span> battery production facilities in the U.S. The two companies will also collaborate on energy storage systems for commercial, industrial and utility markets.<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p><span><span><span><span><span>LG Energy Solution is one of multiple foreign manufacturers setting up shop in Arizona.\u00a0<\/span><\/span><\/span><\/span><\/span>TSMC\u00a0<a rel=\"nofollow noopener\" href=\"https:\/\/pr.tsmc.com\/english\/news\/2977\" target=\"_blank\">announced in December<\/a>\u00a0that it had begun construction on its second fab facility in Arizona, which is set to start production in 2026.\u00a0The company expects to invest approximately $40 bilion on the two Arizona sites.\u00a0<\/p>\n<p><span><span><span><span><span>LG\u2019s host of associated companies are also investing in battery plants across the country.<\/span><\/span><\/span><\/span><\/span><span><span><span><em><span> <\/span><\/em><\/span><\/span><\/span><span><span><span><span><span><span>In November, LG Chem <\/span><\/span><\/span><\/span><\/span><\/span><a rel=\"nofollow noopener\" href=\"https:\/\/www.manufacturingdive.com\/news\/lg-chem-build-largest-cathode-plant-in-us-tennessee-gm-supplier\/637182\/\" target=\"_blank\"><span><span><span><span><span><span><span><span>announced it was building<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/a><span><span><span><span><span><span> a $3.2 billion cathode manufacturing facility in Clarksville, Tennessee.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5143531171910809\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- News - Bottom -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-5143531171910809\"\r\n     data-ad-slot=\"8320848692\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.constructiondive.com\/news\/lg-energy-solutions-5-5b-arizona\/646158\/\" rel=\"nofollow noopener\" target=\"_blank\">This article was originally posted at Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dive Brief: LG Energy Solution plans to invest $5.5 billion to build a battery complex in Queen Creek, Arizona, according &#8230; <a title=\"LG Energy Solution to invest $5.5B in Arizona battery complex\" class=\"read-more\" href=\"https:\/\/essential.construction\/news\/lg-energy-solution-to-invest-5-5b-in-arizona-battery-complex\/\" aria-label=\"Read more about LG Energy Solution to invest $5.5B in Arizona battery complex\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[457],"tags":[],"class_list":["post-14803","post","type-post","status-publish","format-standard","hentry","category-construction-dive","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/14803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/comments?post=14803"}],"version-history":[{"count":0,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/posts\/14803\/revisions"}],"wp:attachment":[{"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/media?parent=14803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/categories?post=14803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essential.construction\/news\/wp-json\/wp\/v2\/tags?post=14803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}