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, Jan. 19 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) drew record high demand from retail investors in the public subscription for its red-hot initial public offering (IPO) next week, its underwriters said Wednesday. The company attracted 114.1 trillion won (US$95.8 billion) in deposits from some 4.4 million retail investors [...]
SEOUL, Jan. 14 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) is expected to raise 12.75 trillion won (US$10.7 billion) this month in what will be the country’s largest-ever initial public offering (IPO). LGES said in a regulatory filing Friday it set the IPO price at 300,000 won per share, the [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. has signed an initial contract to purchase 700,000 dry metric tons of lithium ore concentrate from an Australian miner, a document showed Wednesday, a deal that could help LG secure a supply of lithium-ion battery materials. A disclosure document posted by [...]
SEOUL, Jan. 10 (Korea Bizwire) — LG Energy Solution Ltd. could overtake its Chinese rival and the world’s No. 1 player CATL in share of the global electric vehicle (EV) battery market, given the apparent higher order backlog and other factors, its chief said Monday. Kwon Young-soo, CEO of the South Korean battery maker, made [...]
SEOUL, Dec. 15 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, and its subsidiary LG Energy Solution Ltd. said Wednesday they have jointly acquired a stake in a Canadian lithium-ion battery recycling company. LG Chem and the battery maker LG Energy Solution invested 30 billion won (US$25.3 million) each to acquire a [...]
SEOUL, Dec. 14 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. said Tuesday it has signed a deal with Siemens Korea to work together to turn its battery plants into smart factories to upgrade the manufacturing process. Under the memorandum of understanding, LG Energy Solution will adopt the German industrial solutions provider’s [...]
SEOUL, Dec. 7 (Korea Bizwire) — Battery maker LG Energy Solution Ltd. is seeking to raise as much as 12.75 trillion won (US$10.8 billion) in what would be South Korea’s largest initial public offering (IPO), planned for early next year, the company said Tuesday. The company said in a regulatory filing it is offering 34 [...]
SEOUL, Nov. 30 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. has received preliminary approval for listing on the country’s main stock market, the main bourse operator said Tuesday, taking one step closer to its much-anticipated market debut. The approval by the Korea Exchange (KRX), the country’s main bourse operator, came as [...]
SEOUL, Nov. 5 (Korea Bizwire) — LG Energy Solution Ltd., a leading South Korean battery maker, has signed a battery supply contract with Nikola Corp., a U.S. electric vehicle startup, according to industry sources Friday. The Arizona-based company said in its third-quarter earnings report it entered into a long term battery supply agreement with LG [...]