LG Group President Koo Kwang-mo visited Poland earlier this month and recently went on a business trip to the United States. It appears to be a move to inspect global trading sites ahead of LG’s business relationship meeting starting next week.
According to industry sources on the 18th, President Koo is known to have recently visited Plant 1 of Ultium Cells, a battery joint venture between LG Energy Solutions and General Motors (GM) in Ohio, USA.
It is noted that President Koo visited the battery factory and verified the IRA response plan considering the urgent need to respond to the US Inflation Reduction Act (IRA).
Previously, LG Energy Solution founded Ultium Cells, a joint venture for electric vehicle batteries, with GM in 2019 in line with the explosive growth of the US electric vehicle market.
Factory 1 produced the first prototype last month. Mass production is expected in the second half of the year. As one of four planned plants in the United States, the batteries produced will be supplied to GM electric vehicles. Ultium Cells is also building the second and third factories in Tennessee and Michigan, respectively.
By Jung Yong-cheol, staff reporter [email protected]
