LG Energy Solution Retains EJM Associates, LLC
- Tech stocks push S&P 500 to record close, buoy Nasdaq
- U.S. Calls for Pause of J&J (JNJ) Vaccine After Clotting Cases, Including One Death
- Coinbase (COIN) direct listing IPO reference price set at $250
- Oil rises after robust China data but J&J vaccine pause weighs
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
WASHINGTON--(BUSINESS WIRE)-- Lithium-ion battery leader LG Energy Solution announced Thursday it had engaged EJM Associates, LLC, the energy policy strategic consultancy headed by former US Secretary of Energy Ernest Moniz, to provide strategic advice as the company expands its U.S. production and research and development footprints. Dr. Moniz served as the thirteenth Energy Secretary from 2013 to January 2017.
The new partnership comes as LGES announced last week it would invest $4.5 billion in its US operations by 2025 and would create 10,000 jobs in service of securing an additional 70GWh production capacity in the US. Last year, LGES began work on a $2.3 billion joint venture for battery cell production with General Motors in Ohio. When the new plants are operational, LGES will possess the largest battery cell production capacity in the United States.
"Secretary Moniz will help LGES deliver on its commitment to the electrification of the US vehicle fleet," LG Energy Solution Michigan Inc. Tech Center President Denise Gray said. "His experience at the highest levels of policy and energy work will prove invaluable as we scale at an unprecedented rate to meet the demands of America's supply chain."
"As the US electricity grid continues to rapidly decarbonize toward the goal of carbon neutrality, electrification of the transportation sector takes on added significance," said Secretary Moniz. "LGES builds on a successful track record of battery innovation and, with its manufacturing commitment in the United States, will be a key player in building out the supply chain for robust US electric vehicle manufacturing. We look forward to helping LGES realize this vision while employing thousands of Americans."
For more information, visit: https://www.lgessbattery.com
Source: LG Energy Solution
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Entegris to Report Results for First Quarter of 2021 on Tuesday, April 27, 2021
- Kaizen Discovery Announces Additional US$642,000 Short-Term Loan from HPX TechCo
- SJW Group Announces That Its Texas Subsidiary Has Completed the Acquisition of the Clear Water Estates Water System in Canyon Lake, Texas