SEOUL, Aug. 17 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals firm, is seeing its electric vehicle (EV) battery business in full swing on the back of rising orders, industry sources said Monday. The company’s EV battery business posted 5.08 trillion won in sales in the first half of the year, accounting for [...]
SEOUL, Aug. 3 (Korea Bizwire) – LG Chem Ltd., South Korea’s leading chemical firm, became the largest supplier of electric vehicle (EV) batteries in the first half of the year, data showed Monday. Based on the global usage of EV batteries, LG Chem’s market share stood at 24.6 percent in the January-June period, up from [...]
SEOUL, July 31 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Friday that its second-quarter net profit jumped five times from a year earlier on the back of improved production of electric vehicle (EV) batteries. Net profit reached 419.1 billion won (US$352 million) in the April-June period, compared with 83.8 billion [...]
SEOUL, June 21 (Korea Bizwire) — LG Chem Ltd. is considering shutting down its production line in the southeastern tip of the country due to oversupply, industry and company sources said Sunday. South Korea’s No. 1 electric vehicle battery maker said it has informed its workers of the plan to close down the line in [...]
SEOUL, June 10 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it will sell its liquid crystal display (LCD) polarizer business unit to a Chinese firm to focus on core businesses. LG Chem has signed a deal to sell the LCD polarizer-related business unit to Shanghai Shanshan Chemical Co., Ltd. [...]
SEOUL, May 7 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, overtook Japan’s Panasonic to become the largest supplier of electric vehicle (EV) batteries for the first time, data showed Thursday. Based on the global usage of EV batteries, LG Chem’s market share stood at 27.1 percent in the first quarter, up [...]
SEOUL, April 27 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, said Monday that it will invest about 65 billion won (US$53 million) to boost production of carbon nanotubes. The investment is set to be completed at the Yeosu plant, about 455 kilometers south of Seoul, by March next year, which would [...]
SEOUL, March 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical company, said Wednesday it has shuttered its electric vehicle battery plant in the United States due to the novel coronavirus pandemic. Samsung SDI Co., a South Korean manufacturer of electric vehicle and smartphone batteries, also said it has closed its battery pack [...]
SEOUL, March 3 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemicals company, said Tuesday it has acquired a Turkish television assembly factory in Poland for US$31.4 million to expand its plant for electric vehicle (EV) batteries. LG Chem signed the deal with Turkish electronics and appliance maker Vestel last month, a company official [...]
SEOUL, Feb. 25 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemicals company, said Tuesday it will supply batteries to American electric carmaker Lucid Motors by 2023. LG Chem said it has signed a deal to supply cylindrical batteries for the Lucid Air luxury sedan, which will be launched for mass production in the [...]