LG Energy Solution and General Motors' third battery plant construction suspended

The third battery plant jointly built by South Korea's LG Energy Solution and General Motors of the United States has been suspended recently due to the fact that the progress of the partner's electric vehicle business is not as expected. The plant in Michigan was originally planned to start mass production in early 2025 with an annual output of 50GWh. However, due to the stagnation of demand for electric vehicles from General Motors, construction work has been suspended recently. LG Energy Solution has suspended the construction of the energy storage system (ESS) battery production line at its Arizona plant in the United States. The company said this is to adjust the pace of investment execution efficiently and flexibly according to market conditions and focus on optimizing the company's operations.