SEOUL, Aug. 26 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Friday its management has met with a group of government officials from the U.S. state of Indiana in Seoul and discussed the ongoing battery joint venture with Stellantis N.V. Choi Yoon-ho, CEO of Samsung SDI, met with Indiana Gov. Eric Holcomb [...]
SEOUL, July 29 (Korea Bizwire) — Samsung SDI Co. said Friday it posted record high operating income and sales in the second quarter, driven by strong sales of electric vehicle (EV) batteries. Operating income reached 429 billion won (US$330.4 million) in the April-June period, up 45.3 percent from a year earlier, the company said in [...]
SEOUL, July 28 (Korea Bizwire) — POSCO Chemical Co. will supply a key electric vehicle (EV) battery component to General Motors Co. for three years starting 2023, in an additional US$10.8 billion deal expected to give a boost to the South Korean firm’s pivot to the battery materials sector. POSCO Chemical will supply high-nickel cathodes [...]
SEOUL, July 27 (Korea Bizwire) — LG Chem Ltd. said Wednesday it has clinched a long-term supply agreement with General Motors Co. to provide the U.S. carmaker with key materials for electric vehicle (EV) battery cells. LG Chem, the country’s leading chemical firm, will supply more than 950,000 tons of cathode materials under the eight-year [...]
SEOUL, July 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday it has signed a joint venture agreement with a Chinese mining company to build a battery recycling plant to secure raw materials for lithium-ion battery components. The joint venture deal with Zhejiang Huayou Cobalt Co. will commit the two companies to build [...]
SEOUL, July 22 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it has partnered with Ford Motor Co. and a domestic cathode firm to jointly invest in a cathode materials production facility in the United States. SK On said it it has recently signed a letter of intent with Ford and [...]
SEOUL, July 22 (Korea Bizwire) — LG Energy Solution, South Korea’s leading electric vehicle battery maker, said Friday it will supply more battery packs to Ford Motor Co. as the U.S. carmaker ramps up its global production of electric vehicles. LG Energy Solution will initially double the battery production line allotted for Ford Motor at [...]
SEOUL, July 14 (Korea Bizwire) — SK On Co.’s electric vehicle (EV) battery joint venture with Ford Motor Co. in the United States has formally set sail, the South Korean battery maker said Thursday, paving the way for SK’s new battery unit to accelerate its overseas push amid burgeoning EV demand. The official launch of [...]
SEOUL, July 8 (Korea Bizwire) — SKC Co., a chemical unit of South Korea’s No. 2 conglomerate, SK Group, has begun the construction of a battery copper foil factory in Poland, in what will be its largest such production facility as it bolsters the electric vehicle (EV) battery component business. SKC and its wholly owned [...]
SEOUL, July 5 (Korea Bizwire) — South Korean battery makers are expected to show mixed quarterly results in the second quarter, with Samsung SDI Co. likely to be the only one with profit growth, as rising raw materials costs and auto chip shortages continue to weigh down on their profitability. Samsung SDI is estimated to [...]