SEOUL, Jul. 9 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, will try to quintuple its electric vehicle (EV) battery business by 2024, the company’s CEO said Tuesday, as it aims to become a top five player in the industry. LG Chem CEO Shin Hak-cheol said the company is targeting 59 trillion [...]
SEOUL, Jun. 13 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Thursday it will establish an electric vehicle (EV) battery joint venture (JV) with Geely Automobile Holdings Ltd. in China in a push to tap deeper into the neighboring country’s fast-growing EV market. Under their agreement signed in Ningbo, Zhejiang province, [...]
SEOUL, May 15 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday that it has been tapped as a supplier of electric vehicle (EV) batteries to Swedish carmaker Volvo Car Group. LG Chem said it has signed a multi-year contract to supply lithium-ion batteries for Volvo’s next generation EV projects. The [...]
SEOUL, Apr. 2 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemicals maker, said Tuesday that it has acquired a key technology and related assets from global high-tech chemical firm DuPont for next-generation soluble organic light-emitting diodes (OLEDs). Under the deal, LG Chem acquired DuPont’s technologies and patents for soluble OLEDs as well as [...]
SEOUL, Mar. 15 (Korea Bizwire) — LG Chem Ltd.’s aggressive investment plan for its EV battery and petrochemicals business has drawn mixed responses from market watchers. Some analysts are concerned the investment push may come as a financial albatross to South Korea’s top chemicals and EV battery maker, while others are upbeat it will likely [...]
SEOUL, Mar. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemical firm, said Monday that it has received a US$33.4 million grant from the Bill & Melinda Gates Foundation to develop a new combination vaccine. The grant will be used to develop the 6-in-1 vaccine for simultaneous protection against six serious diseases — [...]
SEOUL, Mar. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle (EV) battery maker, is considering a second plant in Europe to meet growing demand, industry sources said Monday. LG Chem already has an electric car battery production plant in Poland. In November, LG Chem decided to invest 651 billion won (US$577 [...]
SEOUL, Feb. 6 (Korea Bizwire) — South Korea’s top two leading rechargeable battery producers are focusing on different markets as they strive to expand their global presence in this key industry, market watchers said Wednesday. LG Chem Ltd. and Samsung SDI Co. have been moving in different directions as the worldwide market for high-capacity batteries [...]
SEOUL, Jan. 17 (Korea Bizwire) — LG Chem Ltd., a major South Korean EV battery maker, said Thursday that along with other global firms, it plans to use blockchain technology to trace and validate ethically sourced minerals. In a bid to support human rights and environmental protection, as well as help infuse more transparency into [...]
SEOUL, Jan. 10 (Korea Bizwire) – South Korean electric car battery makers such as LG Chem Ltd. are jacking up their investment to strengthen their standing in the global market, industry sources said Thursday. Late last year, LG Chem, the country’s leading electric vehicle (EV) battery manufacturer, announced investments totaling 3 trillion won (US$2.67 billion). [...]