LG Chem Ltd and its wholly-owned battery subsidiary LG Energy Solution plan to invest a combined 15.1 trillion won in South Korea this decade, LGES said on Thursday.
Across the globe, countries are racing to bolster EV battery supply chains as demand for electric vehicles surges to combat climate change and automakers partner with battery makers to ensure uninterrupted supplies.China is dominant, but South Korea is relatively well-placed, with plans to invest a combined more than 40 trillion won through 2030, the country's Ministry of Trade, Industry and Energy said.