South Korea’s Hyundai Motor Group and LG Energy Solution Ltd. plan to invest 5.7 trillion won ($4.3 billion) to build an electric vehicle (EV) battery plant in the United States as part of a push to “drive the EV transition in America” and take advantage of tax credits provided by the Inflation Reduction Act (IRA). The two companies…

LG Energy Solution (LGES) said on March 24 that it would proceed with its plan to build a battery manufacturing complex in Arizona, investing 7.2 trillion won ($5.52 billion) to meet the increasing demand for batteries. LGES, one of the world’s largest battery makers, previously said it reviewed the project due to the “unprecedented economic…