South Korean LG Chem’s subsidiary is Europe’s largest manufacturer of lithium-ion batteries for auto industry
The European Commission on Friday announced that it has approved a €95 million ($105 million) aid for Poland to expand LG Chem’s electric vehicles (EVs) battery plant.
The investment will support the expansion of LG Chem’s battery cell production facility for EVs in Poland’s Dolnośląskie region,a commission statement said.
“The aid will contribute to job creation and to the economic development of a disadvantaged region, without unduly distorting competition,” Executive Vice-President Margrethe Vestager said.
The South Korean chemical company LG Chem Ltd. is operating in Poland through its subsidiary LG Energy Solution Wrocław, which is Europe’s largest manufacturer of lithium-ion batteries for automotive industry.