LG's new EV battery plant investment and Tesla
Armen Hareyan's picture

LG's New EV Battery Plant Is a Welcome News for Tesla

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There is very good news for Tesla as LG's new and confirmed $1.36 billion EV battery plant will surely alleviate and solve Tesla's battery constraints.

So what happened. The Michigan branch of LG Energy Solution has confirmed a $1.36 billion investment into an electric vehicle battery production facility in North America by 2024, according to Korean regulatory filings released on Monday.

Joey Klender at Teslarati notes that Tesla has delayed several projects, including the Semi and next-gen Roadster program due to battery cell constraints. Tesla utilizes Panasonic, CATL, and LG Energy Solution parent company LG Chem batteries for its vehicles globally.

Armen Hareyan is the founder and the Editor in Chief of Torque News. He founded TorqueNews.com in 2010, which since then has been publishing expert news and analysis about the automotive industry. He can be reached at Torque News Twitter, Facebok, Linkedin and Youtube.