LG Chem May Manufacture Lithium Cells in USA

LG Chem plans to invest $1 billion over 5 years with most of it being spent in the USA.

Published: 17-Jan-2009

DETROIT - LG Chem Ltd, chosen to supply batteries for General Motors Corp's Chevrolet Volt, could manufacture battery cells for the plug-in hybrid in the United States should volumes rise sufficiently, LG's chief executive Bahn-suk Kim said on Monday.

Kim also told Reuters at the Detroit Auto Show that the South Korean company is in talks with other automakers about supplying next-generation batteries for electric vehicles, including plug-in hybrids.

LG Chem, which beat a tie-up between Germany's Continental AG and A123 Systems in the race to provide lithium-ion batteries for GM's heavily touted Volt car, plans to invest $1 billion on lithium-ion battery technology by 2013, Kim added.

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