$5B Queen Creek Battery Factory Greenlighted

It’s been a year since LG Energy Solution said it was going to build what could become a $5 billion battery manufacturing campus in Queen Creek. The Phoenix Business Journal says it’s now ready to get moving due to it locking down financing from US Realty Advisors. The company will provide a ground lease and fund the build-to-suit project comprising a cylindrical battery plant for electric vehicles and a lithium iron phosphate pouch-type battery plant for energy storage systems.

The Queen Creek project represents the largest-ever single investment for a stand-alone battery manufacturing facility in North America, according to LGES, which reportedly ranks among the world’s top five or six battery makers.

Set for an approximately 300-acre site, LGES is planning to build a 1.4 million-square-foot plant to produce cylindrical EV batteries first. The company expected to invest $3.2 billion in the EV battery plant and $2.3 billion to construct the ESS battery facility, with capacities of 27 GWh and 16 GWh, respectively.