High demand: LG Chem lithium-ion batteries inside the LS Power Group Gateway Energy Storage project in Otay Mesa, California. Tesla’s growth, fanned by governments promoting electric vehicles to curb air pollution, represents a boon for the firm. — Bloomberg
SEOUL: South Korea’s LG Chem Ltd plans to more than double production capacity of battery cells it makes in China for Tesla Inc electric vehicles (EV) next year, sources said, to keep up with its US client’s growth in the biggest car market.
The firm, a supplier for Tesla’s Shanghai-built Model 3, will also ship its increased output from China as well as South Korea to Tesla’s factories in Germany and the United States, said two people with knowledge of the matter, signalling an increased role in the supply chain of the world’s leading EV manufacturer.
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