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High voltage deal for LG

Rafał Ostrowski 08 November 2019

Rafał Ostrowski

Journalist

+48 22 356 25 11
rafal.ostrowski@eurobuildcee.com

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

High voltage deal for LG
LG intends to produce batteries for imln electric vehicles every year

POLAND LG Chem, part of LG Corporation, has been granted a EUR 250 mln loan from the European Bank for Reconstruction and Development to extend its lithium-ion battery factory in Wrocław.

It is the only fully integrated plant in Europe to produce all the different battery components required for electric vehicles. By 2022 a total of EUR2.8 bln will have been invested in the factory’s three construction stages, and the factory is expected to reach its full production capacity of around 65-70 GWh a year, which will be enough to power up to 1 mln electric vehicles per year.

“We are proud to support this landmark investment, which will lead the green transformation of Europe's automotive sector. In all its industrial projects across all 38 economies in which the EBRD invests, the Bank is investing as a priority for the decarbonisation of hard-to-abate sectors. Becoming part of LG Chem's ambitious venture in Poland illustrates that the EBRD is up to the task,” says Frederic Lucenet, the global head of industry at EBRD. The EU is aiming for a climate-neutral economy by 2050.

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