LG Energy Solution confirmed Wednesday that it plans to build a battery plant in Queen Creek, which will be the first-ever cylindrical-type battery manufacturing plant in North America solely invested by LG.
The Business Journal first reported news of the upcoming plant on Tuesday, based on a development agreement approved by the Queen Creek Town Council on March 16.
Construction on the plant is expected to begin in the second quarter, the South Korean company announced, and mass production will begin in the second half of 2024. Batteries produced at the plant will be supplied to electric vehicle manufacturers. The facility will have the production capacity of 11 gigawatt hours.
“With the establishment of our new Arizona plant, LG Energy Solution aims to deliver unparalleled consumer value in the rapidly growing cylindrical battery market,” Youngsoo Kwon, CEO of LG Energy Solution, said in a statement. “LGES will provide the most dependable, competitive and advanced products to rise as the best business partner that our clients value and trust.”