SEOUL, March 8 (Korea Bizwire) — South Korean chemical maker POSCO Chemical Co. said Tuesday it will build a joint cathode venture with U.S. auto giant General Motors Co. in Canada to supply the key material to the U.S. automaker’s electric vehicles. The US$400 million cathode materials JV in Quebec, Canada, will supply the materials [...]
SEOUL, Jan. 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) and General Motors Co. unveiled a US$2.6 billion plan Wednesday to build a new electric vehicle (EV) battery plant in the United States in their latest move to gain an edge in the global EV market. The factory by Ultium Cells LLC, their U.S.-based [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it will together spend US$2.1 billion with U.S. General Motors Co. to build another electric vehicle (EV) battery factory in America. LGES and GM are expected to chip in half of the amount each through their U.S.-based joint [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean chemical maker POSCO Chemical Co. said Thursday it has agreed with U.S. auto giant General Motors Co. to set up a joint venture for a key component for electric vehicle (EV) batteries and build a plant in North America. The cathode materials JV will begin production of [...]
SEOUL, Nov. 12 (Korea Bizwire) – General Motors Co. said Friday it will launch 10 electric vehicles in South Korea by 2025 as part of its strategy to gradually shift away from internal combustion engine cars to zero-emission ones. GM Senior Vice President Steve Kiefer outlined the Detroit carmaker’s EV plans for the Korean market [...]
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 [...]
SEOUL, Aug. 21 (Korea Bizwire) — American automaker General Motors said it will expand the recall of Chevy Bolt electric vehicles equipped with South Korean supplier LG’s batteries over fire risks, which is expected to additionally cost about US$1 billion. The latest recall covers 73,000 Bolt EVs and EUVs from model years 2019 through 2022 [...]
SEOUL, April 30 (Korea Bizwire) — U.S. automaker General Motors Co. said Friday it will recall Chevrolet Bolt electric vehicles equipped with batteries produced in LG Energy Solution Ltd.’s South Korean factory to update its battery software and ease fire risks. The recall covers about 69,000 Bolt EVs for the 2017-2019 model years, installed with [...]
SEOUL, April 16 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Friday it will spend 1.06 trillion won (US$950 million) to build a battery factory in the United States with American automaker General Motors Corp. In a regulatory filing, LG Energy, wholly owned by LG Chem Ltd., said that it and [...]
SEOUL, April 5 (Korea Bizwire) — POSCO Chemical Co., an affiliate of South Korea’s steel giant POSCO Group, said Monday it will provide a key material for Ultium Cells’ rechargeable batteries for electric vehicles (EVs). POSCO Chemical said it will supply anodes, one part of lithium-ion batteries used in EVs, to Ultium Cells, a battery [...]