SEOUL, July 9 (Korea Bizwire) — POSCO Holdings Inc., South Korea’s leading steelmaker, said Sunday it has built a secondary battery recycling plant in the southwestern city of Suncheon as part of its push to expand its battery materials business. The plant will be operated by POSCO HY Clean Metal — the joint venture between [...]
SEOUL, July 7 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday its second-quarter operating profit is expected to have more than tripled from a year earlier on the back of strong demand for electric vehicle batteries. Operating income reached 611.6 billion won (US$468.7 million), compared with 195.6 billion won the previous year, the [...]
SEOUL, July 7 (Korea Bizwire) — LG Energy Solution Ltd. said Friday it has signed a long-term agreement with Chile’s SQM S.A. for the supply of lithium, a key component in electric vehicle (EV) batteries, in the latest move to further bolster the sourcing of raw materials. Under the agreement, SQM will supply 100,000 tons [...]
SEOUL, July 7 (Korea Bizwire) — The joint battery venture between LG Energy Solution Ltd. (LGES) and Stellantis N.V. will receive up to C$15 billion (US$11.2 billion) in incentives for their electric vehicle battery plant under construction in Ontario, Canadian government officials have said. The announcement on Thursday (local time) came a day after LGES [...]
SEOUL, July 6 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday its joint venture with Stellantis N.V. has reached an agreement with the Canadian governments on the terms of subsidies for the construction of its electric vehicle (EV) battery plant in Ontario. The binding agreement puts the construction of the battery module manufacturing [...]
SEOUL, July 4 (Korea Bizwire) — South Korean battery makers are focusing on attracting funds to advance technology and expand production capacity. LG Energy Solution Ltd. has decided to issue corporate bonds worth 1 trillion won (US$768 million) for the first time since its establishment, according to industry sources. The company doubled the initially suggested [...]
SEOUL, June 30 (Korea Bizwire) — POSCO Holdings, a leader in lithium self-sufficiency for secondary batteries, has begun the construction of the second phase of its lithium production plant in Argentina. A groundbreaking ceremony was held at Hombre Muerto Salt Lake, attended by the Korean Ambassador to Argentina, the Head of Eco-Friendly Future Materials at [...]
SEOUL, June 29 (Korea Bizwire) — Samsung SDI Co. has completed the pilot line for all-solid-state batteries and will begin producing samples in the second half of the year, its CEO said Thursday. Choi Yoon-ho, president and CEO of the South Korean battery maker, made the remarks during an in-house event, referring to the solid [...]
SEOUL, June 26 (Korea Bizwire) — LG Chem Ltd. said Monday it has begun mass production of a next-generation high-nickel cathode material made with a single crystal structure that enhances the power of electric vehicle batteries. The first output of the single-crystal cathodes will be delivered to clients from its Cheongju plant, starting in July, [...]
SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]