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LG Energy Solution Signs Battery Material Deal with Australian Firm

LG Energy Solution Signs Battery Material Deal with Australian Firm

SEOUL, Feb. 14 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it has signed a deal to receive a key battery material from an Australian company. Under the one-year deal with Wesfarmers Chemicals, Energy & Fertilisers (WesCEF), LGES will receive 85,000 tons of lithium spodumene concentrate, which can [...]

Global Battery Market Navigates ‘Chasm’ Amid High Interest Rates and EV Challenges

Global Battery Market Navigates ‘Chasm’ Amid High Interest Rates and EV Challenges

SEOUL, Feb. 13 (Korea Bizwire) – The global battery market is currently navigating a ‘chasm’, a concept introduced by business consultant Geoffrey Moore, which represents a temporary stagnation or decline in demand as cutting-edge technology products transition from early adopters to mainstream markets. This situation is exacerbated by high global interest rates, reductions in electric vehicle [...]

Origin Selects Fluence to Deliver the 300 MW / 650 MWh Mortlake Power Station Battery in Australia

Origin Selects Fluence to Deliver the 300 MW / 650 MWh Mortlake Power Station Battery in Australia

MELBOURNE, Australia, Jan. 29 (Korea Bizwire) — Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimisation software for renewables and storage, today announced that the company has been selected by Origin Energy Limited (Origin) to deliver a 300 MW / 650 MWh battery at the Mortlake Power [...]

LG Energy Solution to Invest in U.S. Startup for Battery Partnership

LG Energy Solution to Invest in U.S. Startup for Battery Partnership

SEOUL, Jan. 25 (Korea Bizwire) — LG Energy Solution (LGES), South Korea’s leading manufacturer of lithium-ion batteries, said Thursday it will make an equity investment in U.S. startup Sion Power for next-generation battery development. The investment is for technology partnership in developing lithium metal batteries, which use a lithium metal anode instead of a graphite [...]

Fluence Surpasses 20 GWh of Deployed and Contracted Battery-based Energy Storage Systems Globally

Fluence Surpasses 20 GWh of Deployed and Contracted Battery-based Energy Storage Systems Globally

This industry-leading milestone marks a new era of scale in battery energy storage and underscores the critical role of storage in enabling the energy transition and reducing the cost of clean and reliable power ARLINGTON, Va., Jan. 17 (Korea Bizwire) — Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, [...]

Jeju Island Initiates Pilot Project for Electric Vehicle Battery Recycling

Jeju Island Initiates Pilot Project for Electric Vehicle Battery Recycling

JEJU, Dec. 19 (Korea Bizwire) – Known as the ‘Island of Electric Vehicles,’ South Korea’s Jeju Island is set to pilot a new project aimed at recycling used electric vehicle (EV) batteries. The Ministry of Environment, Jeju Special Self-Governing Province, and SF ECO Co., Ltd. announced that they would be signing a memorandum of understanding on [...]

SK On Inks Deal to Provide Battery to Swedish EV Polestar 5

SK On Inks Deal to Provide Battery to Swedish EV Polestar 5

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, [...]

S. Korea Eyes Closer Ties with Canada in Batteries amid U.S. Inflation Act

S. Korea Eyes Closer Ties with Canada in Batteries amid U.S. Inflation Act

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 [...]

Samsung SDI Signs 7-year Battery Deal with Hyundai Motor

Samsung SDI Signs 7-year Battery Deal with Hyundai Motor

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 [...]

S. Korea Goes All-out to Support EV, Battery Sectors for Export Growth

S. Korea Goes All-out to Support EV, Battery Sectors for Export Growth

SEOUL, Oct. 5 (Korea Bizwire) — South Korea will extend support for electric vehicles (EVs), secondary batteries and other major industry fields in an effort to boost exports amid signs of a turnaround after a yearlong downturn, the industry ministry said Thursday. The Ministry of Trade, Industry and Energy held a meeting with relevant ministries [...]