JEJU, Dec. 19 (Korea Bizwire) – Known as the ‘Island of Electric Vehicles,’ South Korea’s Jeju Island is set to pilot a new project aimed at recycling used electric vehicle (EV) batteries. The Ministry of Environment, Jeju Special Self-Governing Province, and SF ECO Co., Ltd. announced that they would be signing a memorandum of understanding on [...]
SEOUL, Dec. 8 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading battery maker, said Friday it will supply battery cells to a Polish battery pack company in a three-year deal. LGES has signed the deal to begin supplying 200,000 nickel cobalt manganese (NCM) battery modules to Impact Clean Power Technology (ICPT) in 2024 [...]
SEOUL, Dec. 6 (Korea Bizwire) — POSCO Future M Co. said Wednesday it has started mass production of single-crystal cathodes at its Pohang plant for supply to Ultium Cells LLC, a South Korea-U.S. battery joint venture. The battery materials unit of steel maker POSCO said it has started mass production of NCMA (nickel-cobalt-manganese-aluminum) single-crystal cathodes, [...]
SEOUL, Nov. 29 (Korea Bizwire) — South Korean steel titan POSCO Group completed its first domestic lithium hydroxide factory on the country’s south coast Wednesday in a bid to bolster its battery business, the group said. The plant, located in an industrial complex in Suncheon, about 290 kilometers south of Seoul, can turn out 21,500 [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s battery industry is intensifying efforts to establish a systematic foundation to dominate the rapidly growing second-life battery market, driven by the widespread adoption of electric vehicles. The second-life battery industry represents a futuristic and economically valuable sector. It also has the potential to contribute to waste reduction and [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean battery maker SK On Co. said Wednesday it has partnered with German battery materials firm BASF SE to explore possible business opportunities in the global lithium-ion battery markets. SK On and BASF reached an agreement to collaborate in exploring business opportunities in cathode active materials (CAM) production, [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korean battery maker SK On Co. said Monday that it has signed a battery cell supply agreement with Swedish electric vehicle (EV) maker Polestar for the latter’s upcoming EV model. Under the deal, SK On will supply battery cell modules to Polestar for its flagship four-door grand tourer EV model, Polestar 5, beginning 2025, [...]
SEOUL, Oct. 31 (Korea Bizwire) – Retired electric vehicle (EV) batteries are being freed from their status as mere waste materials. The Ministry of Environment announced on Monday its plan to issue an administrative notice for circular resource designation, focusing on designating waste EV batteries, paper, scrap metal, metal cans, aluminum, copper, waste glass, and glass [...]
SEOUL, Oct. 25 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday its third-quarter net profit more than doubled from a year earlier on strong demand in the United States and U.S. government’s tax credits. Net profit for the three months ended in September soared to 420.5 billion won [...]
SEJONG, Oct. 25 (Korea Bizwire) — South Korea plans to expand ties with Canada in the battery sector amid the U.S. protectionism policy that gives incentives to electric cars produced in North America, a senior trade official said Wednesday. Deputy Minister for Trade Yang Byeong-nae made the remark during his meeting in Seoul with his [...]