SEOUL, Dec. 9 (Korea Bizwire) — Three South Korean electric vehicle battery makers saw their combined global market share fall from a year earlier in the first 10 months of 2024 amid robust growth of Chinese rivals, industry data showed Monday. The trio — LG Energy Solution, SK On Co. and Samsung SDI Co. — [...]
POHANG, South Korea, Dec. 5 (Korea Bizwire) — The industrial heart of Pohang, once buoyed by its thriving secondary battery and steel industries, is grappling with a severe economic downturn, underscoring the fragility of the region’s core sectors. The city, home to major players like EcoPro, POSCO Future M, and GS Energy Materials, has been [...]
SEOUL, Dec. 5 (Korea Bizwire) – South Korea’s Ministry of Environment announced plans to revise regulations governing saline wastewater discharge from secondary battery production, aiming to better assess its ecological impact on marine environments. The proposed amendments to the Water Environment Conservation Act and the Sewerage Act will be open for public comment starting December [...]
SEOUL, Dec. 4 (Korea Bizwire) – As concerns mount over a prolonged drop in electric vehicle demand and potential impacts of Donald Trump’s potential return to the White House, South Korea’s battery manufacturers are adapting their strategies amid growing industry turbulence marked by EV plant closures and bankruptcies worldwide. The country’s three major battery makers are [...]
SEOUL, Dec. 3 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it is considering buying General Motors Co.’s stake in their joint venture battery plant in Michigan. “The company is considering acquiring the Ultium Cells JV 3 plant in Lansing, Michigan, to effectively operate its U.S. plants and [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it has signed a deal with General Motors Co. to develop prismatic battery cells. Under the agreement, the companies will jointly develop prismatic battery cell technology and affiliated battery materials or “chemistries.” Once developed, the prismatic battery cells [...]
SEOUL, Nov. 28 (Korea Bizwire) — Samsung SDI Co., a battery and electronic materials manufacturing unit under Samsung Group, said Thursday it has appointed Choi Joo-sun, head of Samsung Display Co., as its new CEO as part of the group’s leadership reshuffle. Choi, 61, began his career as an engineer in a memory chip development [...]
SEOUL, Nov. 21 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Thursday it has signed an initial agreement with U.S. energy giant Exxon Mobil Corp. to get a supply of up to 100,000 tons of lithium carbonate, a key material for creating cathodes for batteries. Under the memorandum of understanding, Exxon [...]
SEOUL, Nov. 19 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s leading auto parts maker, on Tuesday outlined its value-up program focusing on profitability and technological prowess amid a slowdown in electric vehicle (EV) sales. Hyundai Mobis aims to report an annual average of 5-6 percent in its operating profit margin in the three years through [...]
SEOUL, Nov. 18 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Monday it has signed an initial pact with U.S.-based Bear Robotics to become its sole supplier of cylindrical batteries. LGES signed a memorandum of understanding with the Silicon Valley-based artificial intelligence autonomous service robot company to supply its [...]