LG Chem Commits $4.5 Billion To Expand EV Battery Production In U.S.

URLhttps://www.forbes.com/sites/samabuelsamid/2021/03
SourceForbes
Date Published03/11/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name LG Energy Solution
Parent companyLG Chem
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2021
Year reshoring implemented or to be implemented:2023
Domestically, the work will be done:In-house
Capital investment ($):4500
Country(ies) from which reshored:Korea, Republic of
City reshored to:Holland
State(s) reshored to:MI
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredEV batteries, pouch cells, cylindrical cells
What domestic positive factors made reshoring more attractive?Skilled workforce availability/training, Under-utilized capacity
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