SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s three leading battery producers are gearing up for a fierce contest over the country’s second government-led energy storage system (ESS) project, a program worth more than 1 trillion won ($740 million) and slated for delivery in late 2027. The Korea Power Exchange disclosed last week that the second [...]
SEOUL, Aug. 3 (Korea Bizwire) — Three major South Korean battery makers saw their market share fall in the first half of the year from a year earlier despite solid growth, as bigger Chinese rivals further expanded their overseas foothold, a report said Thursday. The combined market share of the three — LG Energy Solution [...]
SEOUL, July 4 (Korea Bizwire) — South Korean battery makers are focusing on attracting funds to advance technology and expand production capacity. LG Energy Solution Ltd. has decided to issue corporate bonds worth 1 trillion won (US$768 million) for the first time since its establishment, according to industry sources. The company doubled the initially suggested [...]
SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]
SEOUL, May 9 (Korea Bizwire) — South Korean battery makers are increasing their presence in foreign markets, particularly in North America, by creating joint ventures (JVs) with automakers to reduce investment costs and comply with the U.S. Inflation Reduction Act (IRA). In a conference call last week, SK On Co. announced that it is “discussing [...]
SEOUL, Feb. 8 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers saw their global market share decline in 2022 from a year earlier amid robust growth of Chinese rivals, industry data showed Wednesday. The trio — LG Energy Solution Ltd., SK Innovation Co. and Samsung SDI Co. — held a combined 23.7 [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s top three battery makers invested a total of 1 trillion won in research and development (R&D) in the first half of this year. The combined R&D spending of LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. together was estimated at 997.1 billion won (US$759 [...]
SEOUL, Aug. 2 (Korea Bizwire) — The global market share of major South Korean battery makers fell in the first half of this year from a year earlier amid strong growth of Chinese rivals, a report showed Tuesday. LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. together accounted for a combined 25.8 [...]
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, May 24 (Korea Bizwire) — South Korea’s battery makers are aggressively expanding on research and development and facility investments despite a cost burden arising from a surge in the prices of raw materials. According to LG Energy Solution Ltd. (LGES)’s quarterly report, its cathode material purchase price averaged US$34 per kilogram in the first [...]