LG Energy Solution Secures Critical Financing for Huge Arizona Battery Plant

Article originally posted on Phoenix Business Journal on March 26, 2024

South Korea-based LG Energy Solution has secured financing through New York investment firm U.S. Realty Advisors LLC for construction of its first battery manufacturing plant in Arizona.

The technology giant, a supplier to major car companies such as General Motors and Toyota, is constructing a 1.4 million-square-foot plant that will produce 46-Series cylindrical batteries in Queen Creek, east of Phoenix.

The complex at full buildout will comprise a cylindrical-battery plant for electric vehicles and a lithium-iron phosphate pouch-type battery plant for energy storage, representing an overall investment of $5.5 billion to support 3,700 jobs.

Read complete article here: https://www.bizjournals.com/phoenix/news/2024/03/26/lg-energy-solution-arizona-battery-plant-financing.html