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The total area of ​​the LG battery factory completed on that day was 57,000 square meters. The factory had a one-stop assembly line for the production, assembly, and final packaging of batteries. Its annual output was 100,000 batteries, and it will be the world’s largest automotive Battery manufacturing plant. At present, the production line that the factory has started production is making batteries used in the general Chevrolet Volt and modern electric oil hybrid vehicles.
As market demand continues to increase, LG Chemical Co., Ltd. decided to invest KRW 2 trillion (approximately US$ 1.842 billion) at the completion of the construction of the LG Battery Plant No. 1. A second battery plant with an area of ​​67,000 square meters will be built next to Battery Plant No. 1. At the same time, it started the construction of an overseas battery plant in Michigan, USA.
LG Chemical Company stated that due to the recent sharp increase in bookings for new energy vehicles such as the Chevrolet Volt, the demand for automotive batteries will also increase substantially. Therefore, LG Battery Factory will lead the global battery market this year. In addition, after the LG Chem Battery Battery Plant was completed in 2013, LG Chemical's battery production will reach an average of 350,000 per year, and will achieve the goal of capturing 25% of the global car battery market in 2015.
South Korean President Lee Myung-bak, South Korea's Minister of Knowledge Economy, Cui Chongqing, General Motors Vice Chairman Stephan Gersky, Hyundai Motor Vice President Zheng Xiyi and other guests attended the ceremony.
South Korea’s LG Chemical Company announced on April 6 that the company’s LG Chemical Battery Storage Battery Plant in the Kamakura Industrial Park in Chungcheongbuk-do, South Korea, was officially completed and a ceremony was held on the same day. LG Battery Factory hopes to expand battery capacity by building new plants and lead the global battery market.