SEOUL, April 14 South Korea's LG Chem
plans to build an electric vehicle (EV) battery
factory in Poland to meet rising demand from European
automakers, a person familiar with the matter said on Thursday.
"The plant will be completed in about one-and-a-half years,"
said the source, who did not want to be named as he was not
authorized to talk to the media. He did not provide any details
on the size of the investment.
The facilities, to be located in the southwestern Polish
city of Wroclaw, will ultimately have a production capacity of
229,000 EV batteries a year, making it LG Chem's second-biggest
EV battery factory after China, the source said.
The company also builds EV batteries in South Korea and the
LG Chem - the battery supplier for General Motors'
upcoming electric car Bolt - counts a total of 25 automakers
globally, including Renault, Volkswagen,
Audi and Volvo in Europe, as its customers.
A spokesman for LG Chem said it was considering adding car
battery production facilities, but nothing had been decided.
Automakers around the world are expected to roll out a slew
of electric vehicles to meet tougher emissions and fuel economy
regulations, although there are concerns that current low oil
prices will dent demand for fuel-efficient cars.
LG Chem's rival Samsung SDI, which has BMW as
one of its customers, is also considering building an EV battery
factory in Europe, a Samsung SDI spokesman said.
(Reporting by Hyunjoo Jin; Editing by Himani Sarkar)