LG Energy Solution will make a 730 billion won investment in increasing battery production for Tesla

14 June 2022, 15:34:08

LG Energy Solution will make a 730 billion won investment in increasing battery production for TeslaYesterday, LG Energy Solution said that it will invest 730 billion won in its Ochang facility to expand the production capacity of cylinder batteries. 580 million won of those will go to the site's second factory, increasing the 4680 batteries' annual capacity by 9 GWh. The rest of the investment will be used in the first factory for increasing by 4 GWh the annual capacity of the 2170 batteries. The production increase will commence in the second half of 2023. The plant's production capacity will expand to a total of 22 GWh by 2025, including cylindrical batteries. LG Energy Solution is known to supply cylindrical batteries to Tesla's Chinese Model 3 and Model Y. Facility expansion will cover the growing demand for batteries that's due to the growing demand for Model 3 and Model Y. LG Energy Solution will not only produce batteries for Tesla (even though Tesla was not explicitly stated as a name) but will aim to expand its customer portfolio for cylinder batteries. The first reports that LGES will increase its investment in the Ochang facility appeared back in December when LGES mentioned in a securities report for its IPO a 645 billion won investment.

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EV Specifications

Complete specifications of EVs, grouped according to their brand and year

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Featured

Specifications of some of the most interesting and anticipated EVs.

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2023 GMC Hummer EV Pickup

2023 GMC Hummer EV Pickup

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2022 GMC Hummer EV Pickup

2022 GMC Hummer EV Pickup Edition 1

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2023 Rivian R1T

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2023 Rivian R1T

2023 Rivian R1T Adventure Quad-Motor Large Pack

Doors: 4, Seats: 5
Length: 217.1 in / 5514 mm
Height: 78.3 in / 1989 mm
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Electric motor #1: 314 kW, 671 Nm
Electric motor #2: 305 kW, 560 Nm, Location: Front
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2023 Rivian R1S

2023 Rivian R1S Adventure Quad-Motor Large Pack

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Length: 200.8 in / 5100 mm
Height: 77.4 in / 1966 mm
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Electric motor #1: 314 kW, 671 Nm, Location: Rear
Electric motor #2: 305 kW, 560 Nm, Location: Front
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2023 Polestar 3

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2022 Audi e-tron S Sportback quattro

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2022 Audi e-tron S quattro

2022 Audi e-tron S quattro

Doors: 5, Seats: 5
Length: 193.0 in / 4902 mm
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Curb weight: 5941.46 lb / 2695 kg
Location: Rear
Location: Front
Battery: 95 kWh, Voltage: 396 V

2021 Audi e-tron S Sportback quattro

2021 Audi e-tron S Sportback quattro

Doors: 5, Seats: 5
Length: 193.0 in / 4902 mm
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2021 Audi e-tron S quattro

2021 Audi e-tron S quattro

Doors: 5, Seats: 5
Length: 193.0 in / 4902 mm
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2022 Audi Q4 Sportback e-tron 50 quattro

2022 Audi Q4 Sportback e-tron 50 quattro Vorsprung

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Length: 180.6 in / 4588 mm
Height: 63.5 in / 1614 mm
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2022 Audi Q4 Sportback e-tron 50 quattro

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Doors: 5, Seats: 5
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2022 Audi Q4 Sportback e-tron 50 quattro

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2022 Ford F-150 Lightning

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2022 Mercedes-Benz AMG EQS

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Electric motor #2: 239 kW, 290 Nm, Location: Front
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2022 Mercedes-Benz EQS

2022 Mercedes-Benz EQS 580 4MATIC

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Length: 205.4 in / 5216 mm
Height: 59.5 in / 1512 mm
Curb weight: 5698.95 lb / 2585 kg
Electric motor #1: 245 kW @ 4500 - 13500 rpm, 565 Nm, Location: Rear
Electric motor #2: 140 kW, 290 Nm, Location: Front
Battery: 107.8 kWh, Voltage: 500 V