The investment which is being covered by LG Chem, private investors and the European Investment Bank, who have lent 480 million EUR for the project, will manufacture advanced lithium-ion cells and batteries for battery-powered electric vehicles and create 1,800 new jobs.
The European Bank for Reconstruction and Development (EBOR) granted a long-term loan of EUR 250 million to electric car battery maker LG Chem to support the construction of a battery factory in Wrocław, southwestern Poland, EBOR said on Thursday.
The decision to launch production in Gdańsk reflects increased demand for battery solutions on the European market.
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