LG Energy to Invest $3 Billion in US Plant in Toyota EV Pact
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South Korean battery maker LG Energy Solution Ltd. will invest around 4 trillion won ($3 billion) expanding its Michigan plant after signing a deal to supply power packs to Toyota Motor Corp.
LG Energy will supply Toyota 20 gigawatt hours of high nickel-cobalt-manganese-aluminum battery modules annually from 2025, the companies said in a statement.