SEOUL, July 6 (Korea Bizwire) – LG Energy Solution Ltd. (LGES) will supply its electric vehicle batteries to Japanese commercial vehicle maker Isuzu Motors Ltd. in a deal likely amounting to at least 1 trillion won (US$762.4 million), a news report said Wednesday. LGES will produce cylindrical batteries for Isuzu’s EV version of its flagship [...]
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 [...]
SEOUL, July 4 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s leading wire and cable manufacturer, said Sunday it would carry out a wooden cable drum recycling project as part of its efforts to strengthen environmental, social and governance (ESG) management through resource circulation. Wooden drums are used in the process of storing [...]
SEOUL, July 3 (Korea Bizwire) — LG Energy Solution said Sunday its CEO Kwon Young-soo has left for Europe to check on its battery plant in Poland and meet with key partners there as the battery maker is striving to broaden its electric vehicle battery business. During the five-day trip, Kwon is scheduled to visit [...]
SEOUL, July 1 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical maker, said Thursday it will take the initiative to build a virtuous resource cycle ecosystem using plastic waste with its business partners. The company signed a memorandum of understanding with Sampyo Cement, Hyundai Rotem, the Korea Engineers Alliance and the Korea Cement Association [...]
SEOUL, June 30 (Korea Bizwire) – South Korean battery maker LG Energy Solution Ltd. (LGES) said Thursday it has signed a non-binding agreement with a U.S. mining company for the supply of two kinds of lithium products used in electric vehicle (EV) lithium-ion batteries. Under the memorandum of understanding, Compass Minerals, a Kansas-based provider of [...]
SEOUL, June 30 (Korea Bizwire) — POSCO Chemical Co., a major South Korean chemical company, said Thursday it has agreed to cooperate with a British battery startup on the development and supply of electric vehicle battery components in a bid to tap deeper into the European EV market. POSCO Chemical and Britishvolt Ltd., a West [...]
SEOUL, June 29 (Korea Bizwire) — Lotte Chemical Corp. said Wednesday it will spend an additional 140 billion won (US$108.4 million) to expand its electrolyte solvent factory in South Korea to produce four core electrolyte materials vital to the fabrication of lithium-ion batteries. Lotte Chemical said it will push to produce ethyl methyl carbonate (EMC) [...]
SEOUL, June 29 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) has decided to reconsider its 1.7 trillion-won (US$1.31 billion) plan to build a new battery plant in the U.S. state of Arizona, as global inflation and a sharp fall of the Korean currency are expected to incur greater costs, company officials said Wednesday. “We [...]
SEOUL, June 28 (Korea Bizwire) — South Korea’s construction equipment maker Hyundai Doosan Infracore Co. has launched a drive to develop a hydrogen combustion engine for use in commercial vehicles, buses and construction machinery. The company announced that it was selected as the lead agency for the development of hydrogen engine systems and storage and [...]