Hello John,
Governor Doug Ducey announced yesterday ([link removed]) that LG Energy Solution selected Queen Creek, Arizona, for a $1.4 billion battery manufacturing facility ([link removed]) , generating thousands of new jobs.
This announcement is the latest example of high-tech manufacturing flourishing in the state. Recent multi-billion-dollar investments from global technology leaders such as Intel ([link removed]) and TSMC ([link removed]) while EV makers such as Lucid ([link removed]) , Nikola ([link removed]) , and ElectraMeccanica ([link removed]) have production operations in the state.
Check out coverage from 12 News ([link removed]) and KTAR ([link removed]) below:
** EV Battery Maker Building New Plant In Queen Creek
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12 News ([link removed])
April 19, 2022
LG Energy Solution ([link removed]) is planning to build a new manufacturing facility in Queen Creek this summer that will produce batteries for electric vehicles.
Gov. Doug Ducey announced the project Tuesday, claiming LG's facility will generate thousands of new jobs after it opens in 2024.
“Global technology leaders like LG are choosing Arizona because of our world-class business environment, advanced workforce, unbeatable quality of life, and culture of innovation," the governor said in a statement.
The LG plant is expected to manufacture cylindrical batteries, which offer compact energy storage that's ideal for electric cars. The facility is said to be the first of its kind in North America.
LG Energy Solution CEO Youngsoo Kwon said last month the company's new facility will help LG better meet America's growing demand for cylindrical batteries.
“With the establishment of our new Arizona plant, LG Energy Solution aims to deliver unparalleled consumer value in the rapidly growing cylindrical battery market,” Kwon said.
According to Technavio, ([link removed]) the cylindrical lithium-ion battery market has the potential to grow by $9.81 billion between 2021 and 2025. ([link removed])
Queen Creek's leaders are eager to see LG's development come to fruition and bring some good jobs to the East Valley.
"It will bring thousands of local jobs to our highly skilled workforce - enhancing the quality of life our residents experience, additional infrastructure, and major capital investment," said Queen Creek Mayor Gail Barney in a statement.
Read the full article here ([link removed]) . ([link removed])
** LG Energy Solution Picks Queen Creek For Battery Manufacturing Facility
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KTAR ([link removed])
April 20, 2022
LG Energy Solution has decided to build its new battery manufacturing facility in Queen Creek, Gov. Doug Ducey announced Tuesday.
The facility will be used to produce cylindrical-type batteries that are ideal for electric vehicles due to its high-density and compact energy storage.
It is the first facility of its kind in North America, according to a press release ([link removed]) , and represents a $1.4 billion investment for the global company.
“The historic investment from LG Energy Solution is a generational one that will support thousands of good-paying jobs in Pinal County and throughout the state,” Ducey said in the release.
Construction on the East Valley facility is set to begin this summer, with production getting underway by 2024 and establishing the company’s presence in North America’s cylindrical battery market.
“With the establishment of our new Arizona plant, LG Energy Solution aims to deliver unparalleled consumer value in the rapidly growing cylindrical battery market,” Youngsoo Kwon, CEO of LG Energy Solution, said in the release.
The facility will feature a smart factory system, according to the release, including remote support, manufacturing intelligence and logistics automation.
LG Energy Solution is the latest to choose Arizona as a home for high-tech manufacturing, joining companies like Intel, TSMC, Lucid, Nikola and ElectraMeccanica.
“Global technology leaders like LG are choosing Arizona because of our world-class business environment, advanced workforce, unbeatable quality of life and culture of innovation – one that’s delivering unparalleled opportunity for current and future generations,” Ducey said.
“This announcement proves once again that Arizona means technology and we’re only just getting started.”
Read the full article here ([link removed]) .
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