SEOUL, Jan. 25 (Korea Bizwire) — Samsung SDI Co. said Friday that its fourth-quarter net earnings increased 10.8 percent from a year earlier on strong demand for its lithium-ion batteries used in cordless devices and electric vehicles (EVs). In a regulatory briefing, the battery-making unit of Samsung Electronics Co. said its income stood at 266 [...]
SEOUL, Jan. 21 (Korea Bizwire) — Queried about the biggest concerns with using 5G smartphones, the majority of respondents in a new survey pointed to battery life, overheating, and durability. LG Electronics Inc. conducted a survey of 1,000 smartphone users in South Korea and the United States, 65.3 percent of whom said they were most [...]
SEOUL, Jan. 17 (Korea Bizwire) — South Korean battery makers are lagging behind their rivals in China and Japan in electric vehicle (EV) battery competitiveness, a local think tank said Thursday. Korean car battery companies, such as LG Chem Ltd. and Samsung SDI Co., have witnessed their combined share in the global battery market plunge [...]
SEOUL, Dec. 13 (Korea Bizwire) — A simple method to allow for the sale of electricity stored in electric car batteries is coming to South Korea. The Ministry of Trade, Industry and Energy announced on December 12 that it had completed a revision enforcement decree to electric utility legislation and was introducing the so-called ‘Small-scale [...]
SEOUL, Nov. 28 (Korea Bizwire) — Used batteries from electric buses operating in Seoul’s Mt. Nam area will be recycled into Energy Storage Systems (ESS) for the Seoul Energy Dream Center. ESS are used to store large amounts of energy for future use. The Seoul Metropolitan Government will hold a dedication ceremony for a hybrid [...]
SEOUL, Oct. 23 (Korea Bizwire) — LG Chem Ltd. said Tuesday that it will invest 2.1 trillion won (US$1.8 billion) by 2023 to build electric vehicle batteries in China in the latest move to meet growing demand for batteries for zero-emissions cars. South Korea’s top chemical company said it has broken ground for a three-story [...]
SEOUL, Oct. 1 (Korea Bizwire) — SK Innovation Co. is said to be in the process of pushing for the establishment of a facility that would build electric car batteries in the U.S. According to industry sources, SK Innovation has been considering a few locations in the U.S. deemed suitable for the plant, but the [...]
SEOUL, Sept. 3 (Korea Bizwire) — South Korean manufacturers of car batteries are anticipated to benefit from Beijing’s latest move to cut subsidies provided to Chinese companies, industry watchers said Monday. Chinese-based electric car battery maker OptimumNano Energy recently announced that it will suspend its production line for six months citing financial problems. BYD, China’s [...]
SEOUL, Jul. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday it has signed a five-year deal with Nemaska Lithium, a Canadian supplier of lithium hydroxide, a key material in making electric vehicle batteries. The deal allows LG Chem to receive 7,000 tons of lithium hydroxide per year, enough for [...]
AUSTIN, Texas, Jun. 19 (GLOBE NEWSWIRE) — Battery and portable power solutions group Lithium Werks B.V. has signed a strategic distribution agreement with Taipei, Taiwan-based distributor Endrich Co., Ltd to bolster its support for Asian customers. “Demand for lithium batteries from Asian customers has been strong for a long time, but even so, we’ve seen [...]