LG Energy To Spend $3 Billion On Battery Plant Expansion ...Middle East

South Korean LG Energy will invest some $3 billion in expanding the production capacity of a battery plant in Michigan after it inked a battery supply deal with Toyota. Bloomberg reports that the deal is for 20 GWh of battery modules, to be supplied from 2025. Toyota will put these battery modules in its EVs that it will produce at its plant in Kentucky. This, Reuters notes, is enough to equip 250,000 EVs with batteries. Toyota plans to have a lineup of 30 EV models across its brands by 2030, with an annual production capacity of 3.5 million vehicles.…

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