LG Energy Solution Provides Long-Term Lease Debt Guarantee for US Plant to Meet North American EV Battery Demand

LG Energy Solution announced on the 21st that it has decided to guarantee the debt of its U.S. Arizona subsidiary (LG Energy Solution Arizona, Inc.).

This is a debt guarantee related to a long-term lease of the Arizona subsidiary, with the subsidiary's debt amounting to 5.9978 trillion KRW.

The company stated, "We plan to guarantee the debt obligations arising from the Arizona subsidiary's lease payment obligations for the battery factory building leased from AZ BATTERY PROPERTY LLC for 20 years," adding, "We plan to respond to future North American electric vehicle battery demand through this battery production capacity."