LG New Energy Automotive Battery Project Settled in Nanjing

December 17, 2022

South Korea's LG Chemical Co., Ltd. invested in a new energy vehicle power battery project built in Nanjing, yesterday formally signed a contract for Nanjing Economic and Technological Development Zone. Mayor Min Ruilin attended the joint venture and investment signing ceremony of the project and met with the president of the LG Chemical Power Battery Business Unit. J.J. J. J. Xin (Sixth).
LG Chemical ranks first in the world in the field of new energy automotive batteries. The new plant for new energy vehicle power batteries built in Nanjing will use the world's leading lithium-ion battery technology. It is expected to be completed in 2016 and will reach 7 after full production. Dong Power Battery Factory. The project will be constructed in two phases, with a total investment of approximately US$170 million in Phase I and a total investment of approximately US$280 million in Phase II. It will be mainly engaged in the production of midstream battery cells and terminal battery pack assembly in the lithium-ion battery power battery industry chain, including the battery core portion. It will be the only production and R&D base in China.

Yu Ruilin said that the new energy automobile industry is one of the strategic emerging industries that Nanjing has vigorously developed in recent years. The settlement of new major projects will boost the industry to further leapfrog development. It is hoped that on the basis of years of good cooperation, the two sides will further enhance the level of cooperation and speed up the promotion of various projects for the settlement of projects so as to create more favorable conditions for early start-up, early construction and early production. At the same time, we are willing to provide more high-quality services for the development of enterprises in Nanjing, and encourage both parties to deepen cooperation and achieve win-win results in more areas.

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Mr. Liu Keda

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