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Local Battery Makers to Build 11 Gigafactories in US by 2025

Written: 2022-01-12 13:47:07Updated: 2022-01-12 15:25:10

Local Battery Makers to Build 11 Gigafactories in US by 2025

Photo : YONHAP News

South Korean battery makers are set to construct eleven large production lines for EV batteries in the United States by 2025.

Citing U.S. Department of Energy data, the industry ministry on Wednesday said eleven of 13 EV battery plants to be built in the U.S. were linked to three domestic firms: LG Energy Solution, SK On and Samsung SDI.

The three companies will be building facilities independently or in joint efforts with U.S. automakers. LG Energy Solution will be working with General Motors(GM) and Stellantis, SK On with Ford Motor Company, and Samsung SDI with Stellantis.

While battery factories operated in the U.S. by South Korean firms currently take up ten-point-three percent of the total, they are forecast to reach 70 percent following the planned investments.

With the three firms already taking up 71-point-four percent of the market in the European Union(EU) and 52 percent of the global market except for China, the ministry expects the latest investments to help them make further inroads.

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