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EV battery maker LG Energy allots $3bn to boost South Korea plant

Tesla supplier refocuses on home market amid high costs in U.S.

LG Energy Solution hones its smart factory technologies at its Ochang plant in South Korea. (Photo courtesy of LG Energy Solution)

SEOUL -- LG Energy Solution will invest 4 trillion won ($3.07 billion) to expand a factory in South Korea that produces batteries for electric vehicles, the company said Monday, a move seen as increasing its supply to main customer Tesla.

The news also suggests that LG Energy is easing its push into North America, focusing instead on its home turf for now.

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