Billion-Dollar Investments Signal Battery Business Boom

Global automakers and their battery manufacturing partners are investing heavily in building new battery manufacturing capacity. This is a necessary element that needs to be in place for automakers to build future fleets of electric vehicles (EVs). As a result, multinational companies have announced investments that will result in new production facilities and thousands of new jobs.

LG Energy Solution And General Motors Joint Venture

General Motors and the Korean Company LG Energy Solution are working together to build a battery factory in Lordstown, Ohio. The companies expect the $2.3 billion plant to be operational in 2022 and add 1,000 new jobs to the community.

In 2021, company leaders plan on announcing the location of a second battery plant. When all is said and done, the two plants should produce jobs for 10,000 people and represent a total investment of $4.5 billion by LG Energy Solution.

CSIRO engineers refitting a plugin hybrid electric trial car with a larger battery pack and battery charger. Credit: CSIRO

Panasonic Planning to Supply EV Batteries

Panasonic established itself long ago as an electronics manufacturer. The Japanese company is currently restructuring into a holding company that will manage the areas where company leaders expect to enjoy long-term growth. In the near future, Panasonic plans to invest substantial capital into the construction of a lithium-ion battery plant in Europe.

Battery-pack of the Nissan Leaf. Credit: Gereon Meyer

Samsung Expanding Central European Battery Plant

A battery plant run by Samsung in Hungary will undergo a $849 million expansion. The factory currently supplies EV batteries to Ford Motor Co. and BMW AG. The Hungarian plant already produces enough batteries to outfit 50,000 EVs a year.

These large investments indicate that EVs will become the norm in the near future. Comment with your thoughts.

ABOUT General Motors

Our Vision is a World With Zero Crashes, Zero Emissions and Zero Congestion

Our diverse team of 164,000 employees brings their collective passion for engineering, technology and design to deliver on this ambitious future. And the bold commitments we’ve made are moving us closer to realizing this vision. Our new Ultium Platform can help put everyone in an EV, bringing the world to an all-electric future. Periscope is our holistic approach to engineering safety through a human lens.

We’re pushing transportation options beyond our wildest imaginations with autonomous vehicles. We are committed to becoming the most inclusive company in the world and we won’t stop until we get there.

ABOUT LG Energy Solution

LG Energy Solution’s Advanced automotive batteries are leading the market with the best technology and products. We have established the lineup of the world’s first and best electric vehicle batteries to provide the optimal battery solution for electric vehicles worldwide.

LG Energy Solution’s Mobility & IT Battery provides the best solution for customers. We produce cylindrical and pouch-type batteries with the highest performance in the industry and offer free-form batteries that maximize space utilization through our distinguished production process.

ESS (Energy Storage System) provides solutions for application throughout power supply systems including Grid-scale and C&I (Commercial and Industrial), Home, and Backup Power Solution.

ABOUT Panasonic

For more than a century, Panasonic has been discovering ways to address the biggest challenges that impact the world we live in. From our products to our processes, we seize every opportunity to make a positive impact on people and the planet. This was a vision set forth by our founder in 1918 and a vision that continues to be the driving force as we transform our business today.

There’s nowhere else in the world where this vision is clearer than in our North American market.

Today, we are anticipating and responding faster than ever to the needs of individuals, businesses, governments, and communities seeking comfort, connectivity, efficiency, mobility and more. From developing refrigerant technology that has 99% less environmental impact, to intelligent roadways that could reduce vehicle crashes by 80%, to battery technologies that enable electric cars, trucks and bikes — significantly shrinking our carbon footprint.

Article Sources

https://www.bloomberg.com/news/articles/2021-03-09/panasonic-ceo-leaves-wit…
https://www.manufacturing.net/operations/news/21319495/lg-to-invest-45b-in-…
https://auto.economictimes.indiatimes.com/news/auto-components/samsung-sdi-…

 

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