South Korea’s LG Chem plans to invest 1.2 trillion won or $1.07 billion to expand its two battery plants in China by 2020, Reuters reported.
LG Chem will spend 600 billion won each at an electric vehicle battery plant and a small-sized battery plant in Nanjing.
Last year, the South Korean battery maker announced a plan to invest about 2 trillion won to build a second electric car battery plant by 2023 in Nanjing.