LG Energy Solution has invested $3B in a new lithium battery supply deal with Toyota, which includes no batteries produced at the company’s Georgetown, Kentucky plant. The deal is part of Toyota’s push to produce 3.5 million battery EVs a year by 2030 and will begin in 2025. LG Energy Solution is planning an annual battery production capacity of 20 gigawatts and has signed lucrative partnerships with some of the world’s biggest automakers, investing billions of dollars in battery factories across the U.S. On its own, the battery maker is investing $5.5 billion in a Queen Creek, Arizona complex, where it will produce both cylindrical EV batteries and lithium iron phosphate batteries.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
