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SEOUL, Dec 19 (Reuters) – South Korean battery maker LG Power Answer (373220.KS) stated on Monday it plans to take a position 4 trillion gained ($3.1 billion) from this yr to 2026 in a facility making batteries for electrical automobiles and different items.
The undertaking in Ochang, South Korea, will embody R&D and manufacturing amenities and associated infrastructure, and is anticipated so as to add 1,800 workers, the corporate stated in an announcement.
“We plan to arrange a diversified product portfolio together with pouch-type and cylindrical batteries to answer buyer wants in a well timed method, and differentiate manufacturing capabilities based mostly on a ‘sensible’ manufacturing unit,” an LG Power Answer spokesperson stated.
($1 = 1,298.8400 gained)
Reporting by Ju-min Park and Joyce Lee; Enhancing by Christopher Cushing and Edmund Klamann
Our Requirements: The Thomson Reuters Belief Ideas.
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