Via LG Energy Solutions Instagram
By Mark Moran | East Valley Tribune
Queen Creek officials said they learned South Korea-based LG Energy Solution was quadrupling its investment in a battery manufacturing facility the same day the public did on March 24.
LG said a year ago that it would invest $1.4-billion in the facility, but told the town on March 24th they were upping that to $5.5-billion.
Based on a written response from Queen Creek Economic Development Director Doreen Cott, top officials in Seoul, South Korea, where LG is based, had not approved the investment until just before they informed Queen Creek.
“The Town was officially notified that LGES was nearly quadrupling their investment following the LGES board meeting on March 24,” Cott said.
The announcement originated in Seoul, which is 16 hours ahead of Arizona. The official press release came from Seoul at 10:58 pm on March 23, Arizona time.