LG Energy Solution said on Monday that it will spend 730 billion won at its Ochang facility to expand its cylinder battery production capacity.
Out of the total, 580 billion won will be spent on its second factory at the facility for an additional annual capacity of 9GWh for 4680 (46mm diameters, 80mm length) batteries.
The remaining 150 billion won will be spent on the first factory for an additional annual capacity of 4GWh for 2170 batteries.
The additional capacities will go live during the second half of next year.
LG Energy Solution said it plans to add more customers that are adopting cylinder batteries for their electric vehicles.
Panasonic is also planning to expand its 4680 battery production.
LG Energy Solution’s production timeline indicates that it wants to supply the battery type to Tesla before its Japanese rival, though it didn’t mention the US firm by name in its latest spending announcement.