EU regulator clears 95 million euros Polish aid for expansion of LG Chem's battery plant

BRUSSELS – The European Commission on Friday approved Poland’s measures of 95 million euros ($104.95 million) to support the expansion of LG Chem Group’s battery cell production facility for electric vehicles in the Polish Dolnoslaskie region.

“The aid will contribute to job creation and to the economic development of a disadvantaged region, without unduly distorting competition,” EU antitrust chief Margrethe Vestager said in a statement.

($1 = 0.9052 euros)