SEOUL, Aug. 6 (Korea Bizwire) – A recent fire involving a Mercedes-Benz electric vehicle in the underground parking garage of a large apartment complex in Incheon has been traced to a battery manufactured by Farasis Energy, a Chinese electric vehicle battery producer. According to the Ministry of Land, Infrastructure and Transport and industry sources, the battery [...]
SEOUL, Jul. 18 (Korea Bizwire) – Samsung Electro-Mechanics announced on July 17 that it has developed a 2,000V multilayer ceramic capacitor (MLCC) for electric vehicle battery management systems (BMS). MLCCs are essential components in electronic circuits, ensuring stable and consistent current flow. They are widely used in various products, from smartphones to personal computers. In automobiles, [...]
SEOUL, July 3 (Korea Bizwire) –Hyundai Motor Group said Wednesday it has completed construction of an electric vehicle (EV) battery plant built jointly with LG Energy Solution Ltd. in Indonesia, allowing the South Korean automotive giant a fully-integrated EV production system in the Southeast Asian nation. Hyundai Motor Group said it held a completion ceremony [...]
SEOUL, Jul. 3 (Korea Bizwire) – SK On, the battery manufacturing arm of South Korea’s SK Group, has unveiled a comprehensive restructuring plan aimed at steering the company towards profitability and solidifying its position in the global electric vehicle (EV) battery market. The move comes as SK Group reaffirms its commitment to the battery business as [...]
SEOUL, Jul. 2 (Korea Bizwire) –A recent spate of lithium battery-related incidents in South Korea has thrust the safety and environmental concerns surrounding these ubiquitous power sources into the spotlight. From public transportation mishaps to industrial accidents and mounting disposal challenges, the risks associated with lithium batteries are becoming increasingly apparent. On July 1, a [...]
SEOUL, Jul. 2 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it has signed a deal to supply lithium iron phosphate (LFP) batteries for Renault S.A.’s electric vehicles. Under the five-year contract through 2030, LGES will supply LFP pouch-type batteries to Renault’s EV division Ampere, with a total [...]
SEOUL, Jul. 1 (Korea Bizwire) — SK On Co., the loss-making battery unit of South Korea’s chip-to-construction conglomerate SK Group, said Monday it will freeze the annual pay of all executive-level officials until it turns to profit, as part of its cost-cutting measures. Under the measures, C-suite executives, including the chief executive officer, let the [...]
SEOUL, June 28 (Korea Bizwire) – LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Friday it has suspended the construction of a battery production line for energy storage systems (ESS) in its Arizona plant. In April, LGES began the construction of the US$5.5 billion battery plant to produce 46-Series cylindrical batteries for [...]
SEOUL, Jun. 26 (Korea Bizwire) — SK On Co., the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has signed an initial pact with ExxonMobil Corp. for a stable supply of lithium for its EV battery manufacturing. SK On signed a memorandum of understanding (MOU) with ExxonMobil to secure U.S.-produced lithium on the [...]
SEOUL, Jun. 25 (Korea Bizwire) – A devastating fire at a primary battery manufacturing plant in Hwaseong, South Korea, has once again brought the safety risks of lithium batteries into sharp focus. The blaze, which broke out at 10:31 a.m. on June 24 at the Aricell factory in Hwaseong’s Seosin-myeon district, has claimed the lives [...]