SEOUL, Oct. 13 (Korea Bizwire) — LG Electronics Inc. and LG Energy Solution said Wednesday that they will repay General Motors Co. about 1.4 trillion won (US$1.2 billion) in costs for the recalls of Bolt electric vehicles due to battery defects. The two flagship units of South Korea’s LG Group have reached an agreement with [...]
DAEJEON, Sept. 29 (Korea Bizwire) — The Korea Institute of Machinery and Materials, an institute under the jurisdiction of the Ministry of Science and ICT, said Tuesday that it had developed a flexible, stretchable battery that bends and stretches like a snake. With a mechanical structure resembling a snake’s scales, the new battery can easily [...]
SEOUL, July 9 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. is considering investment in the United States to meet growing demand for electric vehicles, industry sources said Friday, stoking speculation over potential partnership with major automakers. The battery making arm of Samsung Electronics Co. has been reviewing various options to build a [...]
SEOUL, April 1 (Korea Bizwire) — The U.S. International Trade Commission (ITC) on Thursday made a preliminary ruling in favor of South Korea’s No. 2 battery maker SK Innovation Co. in a patent suit with its local rival LG Energy Solution Ltd., the latest twist in the bitter dispute between the two Korean battery makers. [...]
SEOUL, March 9 (Korea Bizwire) — Samsung SDI Co., South Korea’s No. 2 battery maker, said Tuesday it spent a record high of 808.3 billion won (US$703.2 million) in research and development activities last year to develop advanced battery technologies. Samsung SDI’s R&D spending accounted for 7.2 percent of its 2020 sales, according to its [...]
WASHINGTON/SEOUL, Feb. 10 (Korea Bizwire) — A U.S. trade panel on Wednesday ruled in favor of South Korean battery maker LG Energy Solution Ltd. in a trade secret case and issued a 10-year import ban on some lithium-ion battery products by SK Innovation Co. The U.S. International Trade Commission (ITC) affirmed a preliminary ruling delivered [...]
SEOUL, Jan. 19 (Korea Bizwire) — The government plans to develop appliances that can recycle used batteries. The Ministry of Trade, Industry and Energy announced Monday that it will invest 13 billion won (US$11.7 million) to develop technology for recycling used batteries by 2024. Batteries used for electric vehicles (EVs) and other appliances will become [...]
AUSTIN, Texas and ENSCHEDE, The Netherlands, Nov. 19 (Korea Bizwire) — Though 2020 has brought many unprecedented challenges to all businesses around the world, Lithium Werks continues to manufacture the Best in Class patented Lithium Iron Nanophosphate™ Power cells for the most demanding markets. Our 26650 Nanophosphate™ cells are used as single cells, as well as to [...]
SEOUL, Nov. 14 (Korea Bizwire) — General Motors Co. said Saturday it has decided to recall electric vehicles equipped with batteries made by South Korean producer LG Chem Ltd. due to safety concerns. The recall covers the Bolt EV produced from 2017 to 2019, installed with LG Chem’s batteries made from Ochang, 120 kilometers south [...]
SEOUL, Nov. 9 (Korea Bizwire) — Shares of South Korean battery makers and renewable energy suppliers got a fresh boost Monday as investors bet on Joe Biden’s win in the U.S. presidential election with clean energy pledges. Biden’s green energy plan includes significant investments in charging infrastructure for electric vehicles (EVs) and updating government vehicle [...]