Both LG and Hyundai believe that their new facility will facilitate the creation of a “stable supply of batteries in the region” while enabling them to swiftly respond to the escalating demand for EVs in the US market. Hyundai Mobis, the automaker’s parts and service division, will assemble battery packs using cells manufactured at the plant. These packs will be utilized in Hyundai, Kia, and Genesis electric vehicles.
The collaboration between LG and Hyundai signifies a significant milestone in the development of the EV industry, as it emphasizes the growing importance of battery production and supply chain capabilities. As the demand for electric vehicles continues to surge, partnerships and investments of this nature will play a vital role in ensuring the availability of reliable and cost-effective EV batteries to meet market needs.
