JEJU, May 2 (Korea Bizwire) — The government and car manufacturers have to put a bigger focus on the safety of battery packs as a series of recent battery fires may drive down demand for electric vehicles (EVs) and have a negative impact on the burgeoning EV market, experts said Tuesday. South Korea currently has [...]
SEOUL, May 1 (Korea Bizwire) — SK IE Technology Co. (SKIET), an electronics materials maker of South Korea’s SK Group, said Monday that it has signed an initial deal with China’s electric vehicle battery manufacturer Sunwoda to supply a battery material. Under the memorandum of understanding, SKIET will provide its battery separators produced at its [...]
SEOUL, April 27 (Korea Bizwire) — Samsung SDI Co. said Thursday its first-quarter net profit rose 28 percent from a year earlier as surging demand for electric vehicle (EV) batteries gave a boost to the bottom line. Net income reached 464.5 billion won (US$347 million) in the January-March period, compared with 362.6 billion won the [...]
SEOUL, April 26 (Korea Bizwire) — Major South Korean battery components maker POSCO Future M Co. said Wednesday it has won a 30.3 trillion-won (US$22.6 billion) order to supply cathodes for LG Energy Solution Ltd., the country’s top battery maker. The deal calls for POSCO Future M to provide LG Energy Solution with high-nickel cathodes [...]
SEOUL, April 26 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday its first-quarter net profit more than doubled from a year earlier, in line with the earlier earnings forecast, on strong electric vehicles (EV) demand in North America and benefits from a new U.S. law on EV subsidies. Net profit for the three months [...]
SEOUL, April 25 (Korea Bizwire) — Samsung SDI Co. said Tuesday it is pushing to build an electric vehicle (EV) battery manufacturing facility in the United States in a joint venture with General Motors Co. The South Korean battery maker unveiled the plan in a regulatory filing, under which the two companies have agreed to [...]
SEOUL, April 25 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will build a 6.5 trillion-won (US$4.9 billion) electric vehicle (EV) battery plant in the United States with SK Group’s battery unit SK On. Hyundai Motor Group’s three major affiliates — Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co. — approved the investment [...]
SEOUL, April 25 (Korea Bizwire) — LG Energy Solution Ltd. said Tuesday it is investing 600 billion won (US$450 million) to build a “mother” production line in its main battery manufacturing complex in the country’s south, as it ramps up production capabilities to meet surging global demand. The mother production line will serve as a [...]
SEOUL, April 24 (Korea Bizwire) — POSCO Future M Co., a major South Korean battery components maker, said Monday it will build a new high-nickel cathode plant in the country’s southeast to meet growing global demand. The company said its board approved a plan to spend 614.8 billion won (US$461 million) for a nickel, cobalt, [...]
SEOUL, April 23 (Korea Bizwire) — SK On, a global battery manufacturer, has won a bronze award at the 2023 Edison Awards for its NCM9 battery, the first time a battery manufacturer has won the prize. The NCM9 battery is a high-nickel battery with a nickel content of about 90%, which SK On developed in [...]