South Korea’s LG opened its second lithium-ion battery plant located in Binjiang Development Zone in Jiangning District, Nanjing on May 18.

Nanjing LG Chem New Energy Battery, the group’s largest investment into the field in the world, boasts leading technologies in producing batteries for mobile devices, electronic vehicles, and ESS.

The new plant with a total investment of $1.3 billion covers an area of 160,000 square meters and mainly supplies EV batteries.

The opening ceremony also witnessed the signing of an agreement among the company, the Management Committee of Binjiang Development Zone and Huaneng Power International.

The company’s main customers are world-leading EV makers, which require the use of renewable energy sources such as solar and wind power to produce batteries. As a result, the three sides will join hands to develop an integrated energy project with a total investment of 2 billion yuan in two phases.

Nanjing and LG have enjoyed a long-term and fruitful cooperation since 1995. The group has opened ten enterprises in Nanjing over 26 years, with a total investment of more than $8 billion, contribute to the largest investment from South Korea. The group’s business in Nanjing is well on the way to achieving the sales of over 100 billion yuan, the first among foreign-invested companies in the city.

Photo/Chen Liu

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