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Europe’s hopes of a lithium-ion gigafactory boosted with an EIB loan

Tue, 04/07/2020 - 16:16 -- Paul Crompton

LG Chem Group’s ambitions to build a lithium-ion gigafactory in Europe has been boosted with a €480 million ($518 million) loan agreement from the European Investment Bank (EIB).

LG Chem Wroclaw Energy, a subsidiary of the South Korean firm, finalised the loan on 26 March as it bids to extend production at its factory on its industrial site in south-west Poland.

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