LG Chem aims to start U.S. battery plant in 2nd half - CFO
SEOUL, April 19
SEOUL, April 19 (Reuters) - South Korea's LG Chem aims to start production at its U.S. electric vehicle battery factory in the second half of this year, its chief financial officer said on Friday.
The remarks were made by LG Chem's Cho Suk-jeh during an earnings' conference in Seoul.
With U.S. governemnt aid, LG Chem has constructed a $304 million lithium-ion battery cell manufacturing plant in Michigan, aiming to produce enough battery cells annually to equip 60,000 electric vehicles by the end of 2013.
But the plant has not started production because of slower than expected demand for the plug-in electric vehicle Volt made by General Motors.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.