Where will LG Energy Solution build a new battery cell factory?

LG Energy Solution will build a new battery cell factory in the US with 43GWh annual manufacturing capacity, including 16GWh dedicated to the stationary energy storage market. The South Korea-headquartered company said this morning that it will invest KRW7.2 trillion (US$5.5 billion) into the production plant in Queen Creek, Arizona.

When will Tesla's Megapack energy storage batteries be made?

U.S. carmaker Tesla commenced construction of a mega factory in Shanghai on Thursday, to produce Megapack energy storage batteries, as the milestone project is slated for mass production in the first quarter of 2025.

How many batteries does Tesla produce a year?

Since beginning production at Gigafactory Nevada in 2017, Tesla has produced more than 7.3 billion battery cells and 1.5 million battery packs, which provide about 39 GWh capacity annually, according to Panasonic.

Is General Motors Building a new battery factory?

General Motors is planning to establish four new battery factories in the United States, with a total capacity of 140 GWh per year. Additionally, Stellantis, the multinational automotive conglomerate, is in the process of building a new factory in Indiana, with an initial annual production capacity of 23 GWh.

Does LG Energy Solution build a solar-plus-storage power plant?

Illustration of a solar-plus-storage power plant with LG ES BESS equipment. Image: LG Energy Solution. LG Energy Solution will build a new battery cell factory in the US with 43GWh annual manufacturing capacity, including 16GWh dedicated to the stationary energy storage market.

How has the IRA impacted the battery industry?

Outside of the battery sector, the IRA has helped fuel a total $245 billion in private investment into clean energy and technology manufacturing, according to Atlas Public Policy’s Clean Economy Tracker. The investment into producing batteries in the U.S. and Canada changes regularly, so we’ve started tracking these promises.