LG Energy Solution Plans $3.1B Investment In South Korea Battery Facility: Report

LG Energy Solution Ltd is planning to invest 4 trillion won ($3.1 billion) from this year through 2026 for a battery facility.
The battery facility, Reuters reported, will produce batteries for electric vehicles and other goods.
The production facility, located in Ochang, South Korea, will also have a Research and Development center and is expected to provide 1,800 jobs.
"We plan to set up a diversified product portfolio including pouch-type and cylindrical batteries to respond to customer needs in a timely manner, and differentiate production capabilities based on a 'smart' factory," the report cited a spokesperson.
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