SEOUL, June 8 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Tuesday it has struck a deal to buy a 7.5 percent stake in an Australian chemical company for 12 billion won (US$10.8 million) for a stable supply of critical metals used in electric vehicle batteries. LG Energy Solution, the wholly [...]
SEOUL, May 7 (Korea Bizwire) — As electric vehicle sales are growing in South Korea, one big issue coming in the foreseeable future is what to do with rechargeable batteries that outlive their useful life for a vehicle. Lithium-ion batteries, a key component that determines an EV’s driving range and performance, inevitably degrade with time [...]
SEOUL, May 3 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers accounted for 31 percent of the global market in the first quarter, but their share has slipped since last year in the face of toughening competition with Chinese rivals, a market research firm said Monday. The trio — LG Energy Solution [...]
SEOUL, April 25 (Korea Bizwire) — SK Innovation Co., South Korea’s refinery-to-battery maker, is back in the driver’s seat to propel its electric vehicle battery business with stake sales and a planned listing of its subsidiary as its recent settlement with LG Energy Solution Ltd. cleared prolonged business uncertainties. The subsidiary of the nation’s No. [...]
SEOUL, April 13 (Korea Bizwire) — SK IE Technology Co. (SKIET), a battery material subsidiary under SK Innovation Co., said Tuesday its second battery separator factory in China started operations to step up its production capacity. SKIET said it opened its first overseas production line in the southeastern Chinese city of Changzhou in November and [...]
SEOUL, March 31 (Korea Bizwire) — South Korea’s three electric vehicle (EV) battery makers saw their global market shares fall in the first two months of the year amid Chinese rivals’ big advances, a market tracker said Wednesday. Worldwide consumption of EV batteries stood at 25.2 gigawatt hours (GWh) in the January-February period, up 102.4 [...]
SEOUL, March 13 (Korea Bizwire) — Georgia Gov. Brian Kemp has asked U.S. President Joe Biden to overturn a U.S. trade panel’s decision against SK Innovation Co. in a trade secret case over electric vehicle (EV) batteries. Kemp repeated his request to save thousands of jobs in northeast Georgia directly tied to an SK Innovation’s [...]
SEOUL, March 4 (Korea Bizwire) — Hyundai Motor Co. said Thursday it has agreed with LG Energy Solutions Ltd. on their cost sharing ratio for the replacement of LG-made batteries in three Hyundai EV models. Hyundai Motor will take up 30 percent of the replacement costs, with LG Energy making up for 70 percent, a [...]
SEOUL, March 2 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. was the No. 2 supplier of electric vehicle (EV) batteries in the world in January after China’s CATL, a market research firm said Tuesday. LG Energy Solution, which spun off from LG Chem Ltd. in December last year, shipped 2.5 gigawatt-hour [...]
SEOUL, Feb. 25 (Korea Bizwire) — South Korean battery makers are facing uncertainty over their businesses on safety issues and legal disputes amid an intensifying competition for the booming market as automakers rush to go all electric. Three manufacturers — LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. — are well-positioned suppliers [...]