LG Chem to Invest $8.7 Billion in Boost to Battery Business Heesu Lee, Bloomberg News LG Chem Ltd. lithium-ion batteries, designed and integrated by NEC Corp., inside the LS Power Group Gateway Energy Storage project in Otay Mesa, California, U.S., on Monday, Aug. 17, 2020. The Gateway Energy Storage project arrives as an unrelenting heatwave has strained California's electric grid, prompting rolling blackouts that have plunged millions into darkness in the past week. Photographer: Bing Guan/Bloomberg , Bloomberg (Bloomberg) -- LG Chem Ltd. will spend 10 trillion won ($8.7 billion) through 2025 to accelerate a âsustainable growthâ in its battery materials operations and other business lines, joining other South Korean industrial giants in a shift toward greener practices.