SEOUL, Oct. 31 (Korea Bizwire) – Retired electric vehicle (EV) batteries are being freed from their status as mere waste materials. The Ministry of Environment announced on Monday its plan to issue an administrative notice for circular resource designation, focusing on designating waste EV batteries, paper, scrap metal, metal cans, aluminum, copper, waste glass, and glass [...]
SEOUL, Oct. 5 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading car battery maker, said Thursday it has signed a 10-year deal with Toyota Motor Corp. to supply EV batteries that will be produced in the United States. The two companies’ U.S. business units — LG Energy Solution Michigan, Inc. and Toyota [...]
JEJU, May 2 (Korea Bizwire) — The government and car manufacturers have to put a bigger focus on the safety of battery packs as a series of recent battery fires may drive down demand for electric vehicles (EVs) and have a negative impact on the burgeoning EV market, experts said Tuesday. South Korea currently has [...]
SEOUL, Sept. 6 (Korea Bizwire) — South Korea aims to raise the rate of recycling by designating scrapped electric vehicle (EV) batteries as a recyclable resource, exempting them from certain restrictions. The Ministry of Environment introduced plans for promoting the circular economy centering on recycling scrapped EV batteries at the Economic Regulation Innovation Task Force [...]
SEOUL, July 6 (Korea Bizwire) – LG Energy Solution Ltd. (LGES) will supply its electric vehicle batteries to Japanese commercial vehicle maker Isuzu Motors Ltd. in a deal likely amounting to at least 1 trillion won (US$762.4 million), a news report said Wednesday. LGES will produce cylindrical batteries for Isuzu’s EV version of its flagship [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korean battery makers are jumping into recycling electric vehicle (EV) batteries as the prices of the metals used in the batteries are on the rise. LG Chem Ltd., South Korea’s largest chemical company, and its subsidiary LG Energy Solution Ltd. recently invested a combined 60 billion won (US$50 [...]
SEOUL, Nov. 30 (Korea Bizwire) — SK On, the new battery spinoff of SK Innovation Co., has launched a pilot project to churn out eco-friendly energy storage system (ESS) using the batteries collected from scrapped electric vehicle batteries. The company said Monday that it had signed a business agreement with the state-run Korea Electrical Safety [...]
SEOUL, Oct. 19 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. has signed a deal with global carmaker Stellantis N.V. to set up a joint venture to produce electric vehicle (EV) batteries, industry sources said Tuesday. Samsung SDI’s deal came a day after its domestic rival, LG Energy Solution Ltd., announced the signing [...]
SEOUL, Sept. 15 (Korea Bizwire) — South Korean automaker Hyundai Motor Group said Wednesday it will partner with solar firm OCI Solar Power and U.S.-based utility firm CPS Energy to recycle used electric vehicle batteries in the energy storage system (ESS). Hyundai Motor, the U.S. subsidiary of Korean solar firm OCI and CPS Energy signed [...]
SEOUL, Sept. 9 (Korea Bizwire) — POSCO Chemical Co. said Thursday that it has acquired a 13 percent stake in Qingdao Zhongshuo New Energy Technology Co. for 4.9 billion won (US$4.2 million) in the latest move to secure a key material required to make anodes used for EV batteries. The chemical unit of South Korean [...]