SEOUL, Dec. 20 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday it has started the construction of a 1.8 trillion-won (US$1.4 billion) cathode plant in the United States to meet the rising demand for electric vehicles (EVs). LG Chem’s 60,000-ton-a-year cathode plant will start production in 2026 with an aim [...]
SEOUL, Dec. 15 (Korea Bizwire) – LG Chem Ltd., South Korea’s leading chemical firm, said Friday it will initially inject 938.5 billion won (US$725 million) in its U.S. subsidiary in charge of building a local cathode plant. LG Chem plans to hold a groundbreaking ceremony next week for a 1.8 trillion-won cathode plant in Clarksville [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it will invest in a C$1.2 billion (US$886 million) Canadian cathode plant along with Ford Motor Co. and Korean cathode material company EcoPro BM to secure a stable supply of the key battery material in North America. SK On, EcoPro [...]
SEOUL, May 30 (Korea Bizwire) — POSCO Future M Co., a major South Korean manufacturer of secondary battery materials, said Tuesday its joint venture with General Motors Co. has secured C$300 million (US$221 million) in funding from the Canadian government for their envisioned cathode plant in Quebec. Canadian Industry Minister Francois-Philippe Champagne made the announcement [...]
SEOUL, April 24 (Korea Bizwire) — POSCO Future M Co., a major South Korean battery components maker, said Monday it will build a new high-nickel cathode plant in the country’s southeast to meet growing global demand. The company said its board approved a plan to spend 614.8 billion won (US$461 million) for a nickel, cobalt, [...]
SEOUL, April 18 (Korea Bizwire) — LG Group Chairman Koo Kwang-mo stressed the importance of keeping a leading position in the production of a key secondary battery material, as the intensifying global race to develop electric vehicles (EV) has sharply driven demand, the group said Tuesday. “As cathodes are a key material in the secondary [...]
SEOUL, March 21 (Korea Bizwire) — POSCO Future M Co., a leading South Korean battery components maker, said Tuesday it is building a new cathode plant in the country’s southeast to meet surging demand after its multibillion-dollar supply deal with Samsung SDI Co. The board recently approved the plan to spend 392 billion won (US$300 [...]
SEOUL, Nov. 22 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical producer, said Tuesday it will build its first U.S. cathode plant in Tennessee as it accelerates its overseas push in North America to respond to the growing demand for electric vehicle (EV) components. LG Chem will spend at least US$3 billion on [...]
SEOUL, May 27 (Korea Bizwire) — South Korean chemical maker POSCO Chemical Co. said Friday it is building a US$327 million cathode plant with General Motors Co. in the Canadian city of Quebec to supply the key electric vehicle battery component to the U.S. automaker. The two have signed a final agreement on setting up [...]
SEOUL, April 7 (Korea Bizwire) — POSCO Chemical Co., a unit of South Korea’s steelmaker POSCO, said Thursday it has started the construction of a high-nickel cathode plant in the country to meet demand from electric vehicle companies. POSCO Chemical will invest 290 billion won (US$238 million) to build a 30,000-ton-a-year cathode plant in Pohang, [...]