Oct 21

LG Chem mulls North America, Europe expansion to meet electric car battery demand

SEOUL — LG Chem plans to triple production capacity for cylindrical batteries used by Tesla and others and is considering expansion in Europe and North America to meet surging demand, the supplier said on Wednesday. The South Korean company forecast a further rise in its battery sales and profit in the fourth quarter after posting record quarterly earnings thanks to growing demand for EV batteries.

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