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New Billion-dollar Korean-Chinese EV Battery Plant Deal Likely to Anger the U.S.

View of Saemangeum, a reclaimed area along South Korea's southwest coast where LG Chem and China's Zhejiang Huayou Cobalt plan to build a new plant. Image via LG Chem.

South Korea’s LG Chem signed a deal with Chinese mining and metal refining giant Zhejiang Huayou Cobalt to build a massive $920 million electric vehicle battery factory in southwest Korea.

While the proposed factory makes a lot of sense for companies like LG that supply Korean automakers with EV batteries, it may provoke an angry response from the United States.

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