LG Energy to Invest $3 Billion to Expand its Battery Manu

09 Oct 2023 CW Team

LG Energy Solution, a prominent battery manufacturer, has announced a substantial investment of KRW 4 trillion (approximately $3 billion) into its Michigan facility. This investment is aimed at establishing new production lines exclusively dedicated to manufacturing battery cells and modules for Toyota, with an expected completion date set for 2025.

Under the terms of the contract, LG Energy Solution will be the designated supplier for Toyota, providing 20 gigawatt-hours (GWh) of automotive battery modules each year. These modules will be composed of high-nickel NCMA (nickel, cobalt, manganese, aluminum) pouch-type cells. They will be delivered to Toyota's motor manufacturing facility in Kentucky, where they will be assembled into battery packs.

These cutting-edge power solutions are intended to support Toyota's expanding range of battery electric vehicles (BEVs), aligning with its multi-pathway product strategy. This strategy includes the introduction of a new BEV model scheduled for assembly at the Toyota Motor Manufacturing Kentucky facility in 2025. Additionally, the new battery modules will play a pivotal role in advancing Toyota's global vehicle electrification initiatives. The company aims to offer a total of 30 BEV models under both the Toyota and Lexus brand names and achieve an annual production of up to 3.5 million BEVs by the year 2030.

This strategic partnership between LG Energy Solution and Toyota underscores the commitment of both companies to drive forward the electrification of the automotive industry and deliver sustainable solutions for environmentally-conscious consumers.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..