By BEX Staff for AZBEX
Representatives of LG Energy Solution have confirmed the company has not yet reached a decision on whether or how to proceed with its planned cylindrical battery production facility in Queen Creek.
In response to an inquiry from the Queen Creek Independent, communications officials with LGES said they were still in the process of reviewing the company’s investment and that no new decision has been made.
AZBEX was the first outlet to report the story of the development agreement between LGES, the Town of Queen Creek and Pinal County in March 2022. Under the agreement, LGES planned to build a $2.8B manufacturing facility. Queen Creek would provide infrastructure improvements, and the County would work to develop a job training facility for the company. (AZBEX; Mar. 18, 2022)
LGES purchased the 650-acre site in April in an Arizona State Land Department auction. The company said its initial investment would be $1.4B and that it hoped to begin construction last summer. Initial production was targeted for some time in 2024.
In June, AZBEX discovered from contractors and reported the project had been put on hold. A few days after the AZBEX report, LGES confirmed the project was paused, saying through a consultant group, “Given the unprecedented economic condition and investment circumstances in the US, LG Energy Solution is currently reviewing various investment options, but no decision has been made.” (AZBEX; June 24, 2022; July 8; 2022)
Last November, a representative of general contractor Yates Construction told BEX Research staff the project was still on hold but that movement was expected “in the coming months.”
To date, no one from the company, Queen Creek or Pinal County has said when a decision could be expected.
