LG Energy Solution eyes site in Morocco for EU supply chain
LG Energy Solution (LGES) is eyeing a site in Morocco for a battery production plant. The South Korean battery supplier plans to produce batteries in Morocco and export them to Europe.
“Morocco is a key candidate for this expansion due to its strategic location and growing industrial capabilities,” said Wonjoon Suh.
Wonjoon Suh, the head of LGES’ advanced automotive battery division, has shared that the company is considering three locations for a battery plant to support an EU supply chain. In addition to Morocco, LGES is also considering Finland and Indonesia. The new battery plant will build a supply chain for the EU electric vehicle (EV)market.
Europe’s EV market is in the midst of a shift. The European Commission (EC) started implementing additional tariffs of up to 38% on China-made EV imports, following the United States footsteps. US President Joseph Biden imposed 100% tariffs on Chinese EVs earlier this year.
“The EU’s new tariffs have created significant pressure for us and other battery manufacturers to find cost-effective solutions,” Suh explained. “By setting up a facility in Morocco, we can better manage production costs and remain competitive in the European market.”
European automakers will have to count the pennies to compete with China’s affordable electric vehicles. Even with the Commission’s additional tariffs, which will be added to the EU’s current 10% rate, China-made EV prices are low.
“Our goal is to reduce manufacturing costs to levels comparable to our Chinese rivals within the next three years,” noted Suh.
If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101.
The post LG Energy Solution eyes site in Morocco for EU supply chain appeared first on TESLARATI.
Source: https://www.teslarati.com/lg-energy-solution-lges-morocco-europe-supply-chain/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom Nootropic
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Online: | |
| Visits: | 1,625,306,238 |
| Stories: | 8,212,428 |
Whistler Blowers, Insiders
