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LG Energy Solution’s Profit More than Doubles in Q2

LG Energy Solution’s Profit More than Doubles in Q2

SEOUL, July 27 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Thursday its second-quarter operating profit more than doubled from a year earlier, driven by the continued strong electric vehicle (EV) demand. Operating income reached 460.6 billion won (US$361.5 million) in the April-June period, compared with 195.6 billion won the previous year, the company [...]

S. Korean Battery Makers Expected to Report Upbeat Q2 Earnings on Solid Demand, IRA

S. Korean Battery Makers Expected to Report Upbeat Q2 Earnings on Solid Demand, IRA

SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]

LG Energy Solution to Develop Battery Anode Material with Australian Company

LG Energy Solution to Develop Battery Anode Material with Australian Company

SEOUL, June 7 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday it has clinched an agreement with an Australian battery materials company to develop artificial graphite, a key component for secondary batteries, accelerating efforts to bolster the sourcing of core battery materials. The joint development agreement was signed with Novonix Ltd., a Brisbane-based tech [...]

LG Energy Solution Invests in Australian Mining Company for Lithium Supply

LG Energy Solution Invests in Australian Mining Company for Lithium Supply

SEOUL, May 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Friday it has signed an investment agreement with an Australian lithium developer in an effort to bolster the sourcing of the critical mineral used in electric vehicle (EV) batteries. Under the agreement signed with Green Technology Metals Ltd., LGES will acquire an approximately [...]

LGES, Stellantis Halt EV Battery Plant Construction in Ontario

LGES, Stellantis Halt EV Battery Plant Construction in Ontario

SEOUL, May 16 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday the construction of an electric vehicle (EV) battery plant in Canada with Stellantis N.V. has been halted, amid apparent haggling between the Canadian federal and provincial governments over who should pay more incentives. The announcement confirms earlier reports by foreign media outlets [...]

POSCO Future M Bags 30.3 tln-won Cathode Deal from LG Energy Solution

POSCO Future M Bags 30.3 tln-won Cathode Deal from LG Energy Solution

SEOUL, April 26 (Korea Bizwire) — Major South Korean battery components maker POSCO Future M Co. said Wednesday it has won a 30.3 trillion-won (US$22.6 billion) order to supply cathodes for LG Energy Solution Ltd., the country’s top battery maker. The deal calls for POSCO Future M to provide LG Energy Solution with high-nickel cathodes [...]

LG Energy Solution’s Q1 Profit More than Doubles on Strong EV Demand, IRA Effects

LG Energy Solution’s Q1 Profit More than Doubles on Strong EV Demand, IRA Effects

SEOUL, April 26 (Korea Bizwire) — LG Energy Solution Ltd. said Wednesday its first-quarter net profit more than doubled from a year earlier, in line with the earlier earnings forecast, on strong electric vehicles (EV) demand in North America and benefits from a new U.S. law on EV subsidies. Net profit for the three months [...]

LG Energy Solution to Invest 600 bln Won for ‘Mother Line’ at Ochang Battery Plant

LG Energy Solution to Invest 600 bln Won for ‘Mother Line’ at Ochang Battery Plant

SEOUL, April 25 (Korea Bizwire) — LG Energy Solution Ltd. said Tuesday it is investing 600 billion won (US$450 million) to build a “mother” production line in its main battery manufacturing complex in the country’s south, as it ramps up production capabilities to meet surging global demand. The mother production line will serve as a [...]