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		</div><p>LG Energy Solution has said it will invest more than 4.5 billion dollars (£3.2 billion) in its US battery production business by 2025 as car makers ramp up production of electric vehicles.</p>
<p>The Korean company, which has a joint venture with General Motors (GM), said the investment will help create 10,000 jobs, including subcontractors.</p>
<p>GM and LG are currently building a 2.3 billion dollar (£1.6 billion) battery factory in Lordstown, Ohio, near Cleveland, that will employ about 1,000 people when it is completed in 2022.</p>
<p>The site is close to GM’s two other designated electric vehicle plants – one in Detroit and the other north of the city in Orion Township, Michigan.</p>
<p>The companies hope to obtain a decision on a second site in the first half of the year.</p>
<p>General Motors has changed its corporate logo and launched an electric vehicle marketing campaign to reshape its image as clean vehicle company, rather than a builder of petrol-powered pickups and SUVs.</p>
<p>The 112-year-old Detroit car maker has promised to roll out 30 new battery-powered vehicles globally by the end of 2025 and said the new campaign will highlight its progressive vision for the future.</p>
<p>GM is likely to need far more battery capacity if it is able to deliver on a goal of converting all of its new passenger vehicles from internal combustion engines to electricity by 2035.</p>
<p>Consulting firm LMC Automotive predicts that US battery powered vehicle sales will hit over one million per year starting in 2023, reaching more than four million by 2030.</p>
<p>Industry analysts have said that car makers face a global shortage of batteries as the industry moves away from petrol and diesel-powered vehicles. Most of the world’s batteries are built in China and other countries.</p>
<p>LG’s investment also comes as US president Joe Biden’s administration laid out its plans to tackle climate change which will likely include <span style="text-decoration: underline;"><a href="https://londonglossy.com/tesla-applies-to-generate-electricity-in-uk/">taking on the oil and gas industry</a></span>.</p>
<p>“The goals of the US president and automakers will be a propelling factor in the growth of the country’s electric vehicle and energy storage systems markets,” said Jong Hyun Kim, CEO of LG Energy Solution.</p>
<p>“LG Energy Solution is dedicated to expanding its battery production capacity and structuring a stable, localised supply chain that provides everything from R&;D to production.”</p>
<p>LG also makes batteries for Chevy’s electric Bolt vehicle.</p>
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