SEOUL, June 17 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Thursday it has completed the supply of its battery system to the world’s largest energy storage system (ESS) that has come online in the United States. LG Energy, a battery unit under LG Chem Ltd., said its lithium-ion batteries are [...]
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, 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 28 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading chemical firm, said Wednesday its first-quarter net profit rose to the highest level ever on strong electric vehicle (EV) battery sales, vowing to step up investment in the battery and related materials to further propel growth. LG Chem’s net profit came to 1.4 [...]
SEOUL, April 17 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Saturday its joint venture with American automaker General Motors Corp. will build a $2.3 billion electric vehicle (EV) battery factory in Tennessee. Ultium Cells, the joint venture between LG and GM, will build a second U.S. factory with an annual [...]
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 15 (Korea Bizwire) — A joint venture between South Korean battery maker LG Energy Solution Ltd. and U.S. automaker General Motors Corp. will build its second battery factory in Tennessee to step up production, industry sources said Thursday. Ultium Cells, a joint venture between LG and GM, has picked a site in Tennessee [...]
SEOUL, April 12 (Korea Bizwire) — Shares of two Korean battery makers spiked Monday as they ended a two-year legal dispute over electric vehicle (EV) battery technology, which cleared uncertainty over their businesses. On Sunday, LG Chem-owned LG Energy Solution Ltd. and SK Innovation Co. reached a last-minute settlement in a bitter U.S. trade dispute, [...]
SEOUL, April 11 (Korea Bizwire) — Two Korean battery makers reached a long-awaited settlement on Sunday to resolve their bitter battery battle, clearing prolonged uncertainty in the face of toughening competition on multiple fronts amid the growing electric vehicle market. LG Energy Solution Ltd. and SK Innovation Co. said they have agreed to settle in [...]
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 [...]