Company to also build its own at Arizona
LG Energy Solution is planning to spend 6.5 trillion won in building two new battery factories in North America.
Earlier this week, it had announced that it plans to build a battery factory in Ontario, Canada through its joint venture with automobile giant Stellantis.
The South Korean battery maker is also planning to build its own cylinder battery plant in Arizona.
The company is aiming to secure an annual production capacity of over 200GWh in North America alone by 2025.
The factory in Canada will be built in the city of Windsor with 4.8 billion won in investment.
It is expected to go live in 2024 with a capacity of 45GWh per year.
LG Energy Solution and Stellantis are also planning to build a module line along with a battery cell line at the plant.
For the factory in Arizona, LG Energy Solution is planning to spend 1.7 trillion won for an annual capacity of 11GWh. Production is expected to start in 2024.