POHANG/SEOUL, April 6 (Korea Bizwire) — EcoPro Co., a leading South Korean producer of secondary battery materials, plans to invest 2 trillion won (US$1.52 billion) to expand its battery components complex in the country’s southeastern industrial city, according to the municipal governments on Thursday. EcoPro is in talks with the municipal governments of North Gyeongsang [...]
SEOUL, April 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), the top South Korean electric vehicle (EV) battery maker, said Wednesday it has clinched a preliminary agreement with a Chinese lithium producer for collaboration in the supply of lithium hydroxide in Morocco, as part of stepped-up efforts to source the key battery material. LGES, [...]
SEOUL, March 24 (Korea Bizwire) – LG Energy Solution Ltd. (LGES) said Friday it will invest 7.2 trillion won (US$5.56 billion) to build what will be its second standalone battery manufacturing site in the United States, sticking to its earlier plan after a period of reconsideration. LGES will spend 4.2 trillion won to build a [...]
SEOUL, March 23 (Korea Bizwire) — South Korean battery maker SK On Co. said Thursday it is forming a joint venture with two battery component partners to build a precursor manufacturing facility on the country’s southwest coast. SK On will sign an investment agreement with EcoPro Co. and China’s Green Eco-Manufacture (GEM) on Friday, under [...]
SEOUL, March 23 (Korea Bizwire) — South Korea will be able to source 20,000 tons of lithium hydroxide from domestically recycled electric vehicle (EV) batteries by 2045 as EV purchases will increase, an outlook that calls for strategic efforts to promote the emerging industry given supply chain instability, a report showed Thursday. The projection is [...]
SEOUL, March 21 (Korea Bizwire) — POSCO Future M Co., a leading South Korean battery components maker, said Tuesday it is building a new cathode plant in the country’s southeast to meet surging demand after its multibillion-dollar supply deal with Samsung SDI Co. The board recently approved the plan to spend 392 billion won (US$300 [...]
SEOUL, March 20 (Korea Bizwire) – Following the European Union’s release of the draft of the Critical Raw Materials Act last week, South Korean industries are busy exploring any possible ripple effects. The Critical Raw Materials Act calls for not more than 65 percent of the EU’s annual consumption of each strategic raw material from [...]
SEOUL, March 15 (Korea Bizwire) — Samsung SDI Co. has been in talks with General Motors Co. for a potential business collaboration, although no details have materialized yet, its chief said Wednesday. Choi Yoon-ho, president and CEO of the South Korean battery maker, made the comments after media speculation that the company will build a [...]
SEOUL, March 15 (Korea Bizwire) — POSCO Chemical Co., a leading South Korean manufacturer of secondary battery materials, said Wednesday it is showcasing a full lineup of its cathode and anode products and related technologies at an international battery show this week. POSCO Chemical will present high-nickel cathodes, a key component that determines the power [...]
SEOUL, March 14 (Korea Bizwire) — Samsung SDI Co., a major South Korean battery maker, said Tuesday it will showcase two electric vehicle (EV) models made by BMW and Volvo with its nickel-rich batteries at this week’s battery show. On display at InterBattery 2023, due to kick off Wednesday at an exhibition center in southern [...]