# LG Chem to Spend $1.8 Billion to Build Their Own Electric Cars

- Link: https://greenlivingguy.com/2011/05/lg-chem-to-spend-1-8-billion-to-build-their-own-electric-cars/
- Published: 2011-05-17T19:57:10-04:00
- Author: greenlivingguy

First of all, LG Chem Ltd. (051910), South Korea’s biggest chemicals maker. For 
they said it plans to spend 2 trillion won ($1.8 billion) by 2013. All to expand
its electric-car battery capacity.

The chemicals maker has finished building a plant in Ochang, South Korea. One that
can also supply lithium-ion batteries for 100,000 vehicles every year. I mean that’s
what LG Chem said in a regulatory filing today. The plant is the world’s largest
by capacity, the company said.

#### LG won big on Batteries

![LG battery](https://i0.wp.com/greenlivingguy.com/wp-content/uploads/2023/03/16C17F0D-
34D5-4962-96DD-ECA3B79F3926-300x175.jpeg?resize=300%2C175&quality=89&ssl=1)

The shares rose to a record today as LG Chem said it aims to get 2 trillion won 
in battery sales by 2013 and 4 trillion won by 2015. The company has signed supply
deals with carmakers including Ford Motor Co., China-based Chongqing Changan Automobile
Co. and Renault SA, and aims to capture 25 percent of the world’s electric-car battery
market within four years.

The company is currently building a second plant in South Korea and a third in the
U.S., with operations slated to begin in 2012. LG Chem said last year it may be 
able to supply batteries for 350,000 vehicles annually by 2013.

#### Chevy Bolt History

The shares also rose 1.9 percent to 477,500 won in Seoul trading. For that’s compared
with the 0.2 percent decline in the benchmark Kospi Index. LG Chem also advanced
91 percent in the past year.

In conclusion, [General Motors](https://greenlivingguy.com/2011/02/chevrolet-volts-going-nationwide/)
Vice Chairman Stephen Girsky, who attended the completion ceremony of the Ochang
plant today. They said the U.S. carmaker plans to invest 4.8 trillion won in South
Korea over the next three years. Finally and he didn’t elaborate. That was probably
the Chevy Volt and Bolt!

Source: [Bloomberg](https://www.bloomberg.com/tosv.html?url=Lz8=&uuid=963d2380-8023-11e8-9f14-dbfdf83bd400&vid=)
and GM-Volt.com

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 greenlivingguy

 The Green Living Guy, Seth Leitman is an independent power producer, a green living
expert, and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author,
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