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 [...]
SEOUL, Oct. 23 (Korea Bizwire) — Samsung SDI Co., South Korea’s second-biggest car battery maker, said Monday it will supply batteries for Hyundai Motor Co.’s electric vehicles in a seven-year deal. Samsung SDI signed the deal to provide car batteries to Hyundai Motor’s vehicles to be built in Europe from 2026 through 2032, the company [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading car battery maker, said Thursday it has signed a 10-year deal with Toyota Motor Corp. to supply EV batteries that will be produced in the United States. The two companies’ U.S. business units — LG Energy Solution Michigan, Inc. and Toyota [...]
SEOUL, Oct. 3 (Korea Bizwire) – Finance Minister Choo Kyung-ho said Tuesday the government will come up with a set of measures to boost the competitiveness of South Korea’s rechargeable battery industry and small and medium-sized enterprises (SMEs) later this year. Along with the plan, the government will expand its investment into the research and [...]
SEOUL, Sept. 27 (Korea Bizwire) – Samsung SDI Co. will spend US$1.97 billion on its second battery manufacturing facility it is building in the United States jointly with Stellantis N.V., the South Korean battery maker said in a filing Wednesday. The disclosure came about two months after their U.S. venture, StarPlus Energy, announced a plan [...]