LG Chem will acquire a home appliances plant near its Wroclaw plant in Poland to scale up the production capacity of its electric vehicle (EV) batteries, the company announced on Tuesday.
It is an assembly factory of the Turkish home appliances maker Vestel that the South Korean battery maker will purchase. The Turkish plant covers an area about 220,000 square-meters, according to the Turkish media.
LG Chem will make an additional investment after the acquisition is completed in order to change the existing assembly line into battery production line. LG Chem’s existing battery factory in Poland has the production capacity of 15 gigawatt-hours (GWh), which is enough to produce 250,000 units of EVs. LG Chem plans to raise its EV battery production capacity by more than four times by the end of the year.