LG Energy Solution invests USD 800 million to expand power battery project in Nanjing

Nanjing Jiangning Binjiang Economic Development Zone signed a contract with South Korean battery giant LG Energy Solution, with a total investment of US$800 million, involving production projects such as power batteries and energy storage batteries. LG Energy Solution has set up a factory here since 2018, mainly producing new energy vehicle power batteries and energy storage batteries, with key customers including Volkswagen and other automobile companies. After full production, it is expected to increase annual sales by about 4 billion yuan.